U.S. energy markets unnerved by shutdown

Oct. 15, 2013 at 6:51 AM   |   Comments

WASHINGTON, Oct. 15 (UPI) -- Analysis from the U.S. Energy Department could resume quickly if the government shutdown ends but long-term reporting is in jeopardy, a former officer said.

International economists have expressed concern about the effects of a U.S. federal government shutdown, which entered its third week Tuesday.

The Energy Information Administration, the Energy Department's statistical division, closed its doors Friday because of the shutdown. Former EIA Administrator Guy Caruso said monthly reporting could resume quickly if the shutdown ends, the Platts news service reported Monday

The EIA publishes weekly price data on West Texas Intermediate crude oil, natural gas and other commodities. Caruso, who served from 2002-08, said missing a week of data could cause problems with fuel contracts pegged to EIA data and impact long-term models based on weekly EIA statistics.

An annual market report from the EIA, due in early December, may be delayed at least a week because of the shutdown, Platts reported.

Capitol Hill publication The Hill reported there may be signs of hope with a deal that emerged late Monday that could reopen the federal government and temporarily raise the borrowing limit.

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