US fuel supplies tighten as pipeline outage continues
Colonial Pipeline hopes to restart operations by end of week
Reuters
May 12, 2021
Oil was underpinned by a weak US dollar, which makes oil cheaper for buyers using other currencies. PHOTO: REUTERS
WASHINGTON:
Supplies of gasoline tightened further in parts of the United States on Tuesday as the shutdown of the nation’s biggest fuel pipeline by hackers entered its fifth day, raising concern about price spikes at the pumps ahead of the summer driving season.
Colonial Pipeline said it was working towards a substantial restart of operations by the end of this week after a cyberattack forced it to cease operations on Friday, choking off nearly half of the East Coast’s fuel supply and underscoring the vulnerability of US energy infrastructure to hackers.
defenceWeb
Written by Reuters -
A Colonial Pipeline right of way in an image courtesy of the company. - Reuters
The biggest US gasoline pipeline will not resume full operations for several more days due to a ransomware cyberattack blamed on a shadowy criminal network called DarkSide.
The attack on the Colonial Pipeline, which carries nearly half the fuel consumed along the US East Coast, is one of the most disruptive digital ransom schemes ever reported.
While the impact remains to be quantified, the pipeline shutdown will reduce fuel availability in the near term, push up prices and force refiners to cut production because they have no way to ship the gas.
Tuesday, 11 May 2021 06:28 PM MYT
Holding tanks are seen at Colonial Pipeline’s Linden Junction Tank Farm in Woodbridge, New Jersey in an undated photograph. Colonial Pipeline handout pic via Reuters
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NEW YORK, May 11 Supplies of gasoline tightened further in parts of the United States on Tuesday as the shutdown of the nation’s biggest fuel pipeline by hackers entered its fifth day, raising concern about price spikes at the pumps heading into the summer driving season.
The Colonial Pipeline said it was working to “substantially” resume operations by the end of this week after a cyberattack forced it to cease operations on Friday, choking off nearly half of the East Coast’s fuel supply in an incident that underscored the vulnerability of US energy infrastructure to hackers.
The biggest US gasoline pipeline will not resume full operations for several more days due to a ransomware cyberattack blamed on a shadowy criminal network called DarkSide, says the operator of the pipeline.
The privately owned Colonial Pipeline Company said on Monday it was working on restarting in phases with “the goal of substantially restoring operational service by the end of the week.”
The attack on the Colonial Pipeline, which carries nearly half the fuel consumed along the United States East Coast, is one of the most disruptive digital ransom schemes ever reported.
While the effect remains to be quantified, the pipeline shutdown will reduce fuel availability in the near term, push up prices and force refiners to cut production because they have no way to ship the gas.
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