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 :

February 23, 2021

US RBOB prices lift the global oil complex

Brent prompt future contract rallied to 66.2 $/b, as product buyers aggressively bid gasoline resources in the US to secure to supply in those highly uncertain conditions, lifting…
October 20, 2021

Mixed price evolution

European spot gas prices were mixed yesterday, while curve prices were more clearly downward. The latter continued their technical correction in a context of rather…
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?