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-oil
June 10, 2021

Inflation day

ICE Brent price declined to 71 $/b after a rather mixed EIA report showing crude draws combined with large product builds, as US refineries ramped…
ES-gas
November 26, 2021

Slight price drop

Amid unchanged fundamentals, European gas prices weakened slightly overall yesterday. The (moderate) drop in Asia JKM prices (-1.91%, to €107.482/MWh, on the spot) helped accompany…
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]