Pipeline shutdown is sparking worries of a spike in gas prices cnn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnn.com Daily Mail and Mail on Sunday newspapers.
Texas pipeline shutdown sparking worries of spike in gas prices
There is currently no information on when service in the pipeline will be restored, and “the number of days that the line is out of service is critical,” Tom Kloza, global head of energy analysis for the Oil Price Information Service, which tracks gas prices at 140,000 US stations, told CNN Business.
Colonial Pipeline executives have fully acknowledged the security breach, which has temporarily halted all pipeline operations and impacted IT systems.
“The greatest concern is in coastal states from Georgia north to the Delmarva Peninsula,” Kloza said. He pointed out that Northeastern supply can readily be supplemented with foreign imports of gasoline, but several other states don’t have that advantage. “Tennessee is also a primary supply concern, as it often runs out of gasoline during normal circumstances,” he said.
By Laila Kearney on May 10, 2021 6:10AM Holding tanks are seen at Colonial Pipeline s Charlotte Tank Farm in Charlotte, North Carolina, US an undated photograph. Colonial Pipeline/Handout via REUTERS
Attackers reportedly exfiltrated 100GB of data.
US government officials were working closely with top US fuel pipeline operator Colonial Pipeline on Sunday to help it recover from a ransomware cyber attack that forced the company to shut a critical fuel network supplying populous eastern states.
The attack is one of the most disruptive digital ransom operations reported and has prompted calls from American lawmakers to tighten protections for critical US energy infrastructure against hackers.
U S government working to help top fuel pipeline operator after cyberattack reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Top US fuel pipeline operator Colonial Pipeline pushes to recover from cyberattack
Reuters
May 9 |
Updated on
May 09, 2021
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On Friday, Gasoline futures and diesel futures prices on the New York Mercantile Exchange rose due to the outage Top US fuel pipeline operator Colonial Pipeline worked on Sunday to recover from a ransomware cyberattack that forced it to shut down on Friday and sparked worries of a spike in retail gasoline prices.
Colonial said on Saturday it was continuing to monitor the impact of this temporary service halt and to work to restore service. It did not give an estimate for a restart date.