US colonial pipeline shutdown due to a ransomware

ICE Brent prompt prices were supported at 68.8 $/b by a rapidly weakening dollar and the shut down of the US colonial pipeline on Friday evening, which transports about 2.5 mb/d of petroleum products through the US from the Gulf Coast to the East Coast. Tankers were already being chartered as soon as Saturday to mitigate the risk of shortage for the Atlantic coast. If the issue lasts more than 3 to 5 days, we could see significant drawdowns on gasoline and diesel stocks. 

colonial pipeline
Share this news :

You might also read :

ES-power
September 27, 2021

EUAs climbed to new record above 64€/t

The European power spot prices for today observed mixed variations from Friday to reach close levels near 140€/MWh. Averaging 141.94€/MWh in the four countries, the…
ES-oil
January 13, 2022

Refining works in the US

Crude prices rallied yesterday, above 85 $/b for ICE Brent crude, despite a rather neutral data release from the EIA. Indeed, crude stocks continued to…
ES-oil
May 24, 2021

Cyclone premium

ICE Brent prompt contract recovered to 67.1 $/b on early Monday, as a potential cyclone formation in the Gulf coast could have an impact on…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]