Lates News

On May 1, four minutes before the release of the weekly natural gas inventory report, the Department of Energy (DOE) announced that the Energy Information Administration (EIA) under its jurisdiction would delay the release of data, causing concerns among traders and businesses closely watching the data that Elon Musk's cost-cutting measures would disrupt. The data on the rise and fall of US natural gas inventories typically affects the prices of fuel for heating and power plants, making it crucial for traders trying to estimate demand. An EIA spokesperson stated that the report would be released at 14:00 New York time (02:00 Beijing time on May 2) 3.5 hours later than usual. An official from the agency stated that the delay was not due to personnel issues, but rather technical issues with third-party software applications. With the Trump administration cutting government spending, such delays in the weekly EIA reports are rare. Thousands of DOE employees have already applied for voluntary buyout programs provided by the Office of Government Efficiency, which is led by Musk. Musk recently announced his decision to resign from his position in the White House.