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Top US fuel pipeline down for fourth day as hackers issue statement

By Devika Krishna Kumar NEW YORK (Reuters) – The U.S. government and the top fuel pipeline operator in the United States on Monday worked to secure the network that transports nearly half of the East Coast’s fuel supplies, as the group suspected of a ransomware cyberattack that caused it to shutdown last week said it was just trying to make money. The attack on Colonial Pipeline is one of the most disruptive digital ransom schemes reported and the resulting shutdown has disrupted fuel supply across the eastern United States, triggering isolated sales restrictions at retail pumps and pushing benchmark gasoline prices to a three-year high.

United statesNew yorkNorth carolinaWhite houseDistrict of columbiaAndrew lipowDevika krishna kumarStephanie kellySteve hollandBernadette baumRaphael satterDepartment of transportationKinder morgan incValero energyHartsfield jackson international in atlantaHolt co

Hackers Seek Cash, Not Chaos, in Colonial Pipeline Cyberattack

By Stephanie Kelly and Devika Krishna Kumar NEW YORK, May 10 (Reuters) – America’s biggest 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 U.S. 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.

United statesNew yorkNorth carolinaWhite houseDistrict of columbiaDevika krishna kumarStephanie kellySteve hollandBernadette baumRaphael satterDepartment of transportationKinder morgan incMarathon petroleumAmerican automobile associationHartsfield jackson international in atlantaDevika krishna

Explainer: Will Colonial fuel pipeline shutdown mean US pump prices rise?

By Devika Krishna Kumar NEW YORK (Reuters) - The largest U.S. fuel pipeline system, Colonial Pipeline, shut down on Friday after a cyberattack. Nearly half the fuel consumed in the populous eastern United States passes through the network. WHAT S THE OUTLOOK FOR PUMP PRICES? Prices at gasoline stations are expected to rise if the outage continues. Retail prices across much of the United States follow the lead of benchmark New York gasoline futures. Trading in those futures opened for the week on Sunday up more than 3%, hitting the highest level in three years. Retail prices began to creep up at the weekend. The national average price increased a cent on the gallon since Friday to $2.962 a gallon, according to Jeanette Casselano, a spokeswoman for the American Automobile Association.

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Explainer-Will Colonial Pipeline shutdown spike U S pump prices?

Explainer-Will Colonial Pipeline shutdown spike U S pump prices?
yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.

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Oil steadies as dollar slumps but pandemic surge weighs

Oil steadies as dollar slumps but pandemic surge weighs
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