The PMI is not a manufacturing indicator. It’s a diffusion index on the value of stocks. What you are saying is that the stock market is contracting after seeing a rise at the beginning of the year (also zerohedge, come on, I thought we were having a serious discussion here).
SPR reserve draining was key to manipulating gas prices to have taking points for US midterms and inflation calculations, for starters.
Manufacturing numbers are also down
https://www.zerohedge.com/economics/ism-manufacturing-contra...