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 :

December 21, 2021

Libyan force majeure

Crude prices continued to be under pressure during yesterday’s intraday session but remained above 71 $/b at the prompt. Lybian exports were curtailed by the…
July 12, 2021

EUAs rebounded alongside the wider markets

The European power spot prices for today are slightly up compared to Friday, lifted by expectations of weaker wind output and French nuclear availability, although…
February 15, 2021

Spot prices down in most European markets

Spot gas prices dropped in most European gas markets on Friday, still pressured by expectations of higher temperatures from today and stronger LNG supply to…
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?