This sounds more serious than they initially said

"Fuel prices jumped in trading on Sunday night, as much of one of the largest pipelines in the U.S. remains closed following a cybersecurity attack.

Gasoline futures jumped 2% to $2.168 per gallon, while heating oil futures rose 1.2% to $2.03.

West Texas Intermediate crude futures, the U.S. oil benchmark, advanced 56 cents to $65.46 per barrel. International benchmark Brent crude traded at $68.95 per barrel, for a gain of 65 cents. Natural gas futures were at $2.96 per million British thermal units, while

Colonial Pipeline said Sunday evening that some of its smaller lateral lines between terminals and delivery points are once again online, but that its mainlines are still shut down.

“We are in the process of restoring service to other laterals and will bring our full system back online only when we believe it is safe to do so, and in full compliance with the approval of all federal regulations,” the company said in a statement.

How quickly service is restored to the pipeline remains the crucial factor to watch. While tank farms typically have a few days of stored fuel supply, a prolonged outage could lead to a spike in fuel prices."



https://www.cnbc.com/2021/05/09/gas...ains-shutdown-following-cyberattack.html


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