Capitalize Financial
No Result
View All Result
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Real Estate
  • Cryptocurrency
Capitalize Financial
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Real Estate
  • Cryptocurrency
No Result
View All Result
Capitalize Financial
No Result
View All Result
Home Markets

US government working to aid top fuel pipeline operator after cyberattack

by capitalizefinancial
May 10, 2021
in Markets
0
US government working to aid top fuel pipeline operator after cyberattack

By Laila Kearney, Doina Chiacu and Laura Sanicola

(Reuters) -The White House was working closely with top U.S. fuel pipeline operator Colonial Pipeline on Sunday to help it recover from a ransomware 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 schemes reported and has prompted calls from American lawmakers to strengthen protections for critical U.S. energy infrastructure from hacking attacks.

Commerce Secretary Gina Raimondo said the pipeline fix was a top priority for the Biden administration and Washington was working to avoid more severe fuel supply disruptions by helping Colonial restart as quickly as possible its more than 5,500-mile (8,850 km) pipeline network from Texas to New Jersey.

“It’s an all hands on deck effort right now,” Raimondo said on CBS’ “Face the Nation” program. “We are working closely with the company, state and local officials, to make sure that they get back up to normal operations as quickly as possible and there aren’t disruptions in supply.”

Colonial said on Sunday its main fuel lines remain offline but some smaller lines between terminals and delivery points are now operational. Neither Raimondo nor the company gave an estimate for a full restart date and Colonial declined further comment on Sunday.

U.S. gasoline futures jumped more than 3% to $2.217 a gallon, the highest since May 2018, as trading opened for the week and market participants reacted to the closure.

Colonial transports roughly 2.5 million barrels per day of gasoline and other fuels from refiners on the Gulf Coast to consumers in the mid-Atlantic and southeastern United States.

Its extensive pipeline network serves major U.S. airports, including Atlanta’s Hartsfield Jackson Airport, the world’s busiest by passenger traffic.

Continue…

Previous Post

Gold firms as US jobs data miss cements low rates view

Next Post

Gold rises on hopes of low interest rates post bleak US jobs data

Next Post
Gold rises on hopes of low interest rates post bleak US jobs data

Gold rises on hopes of low interest rates post bleak US jobs data

Search…

No Result
View All Result

Subscribe Us

By clicking on Subscribe, I confirm that I have read and agree to the terms set forth in the Privacy Policy and Terms of Service including Capitalize Financial’s ability to use and share my information and Capitalize Financial, or third-party companies and business partners, may send me offers for products and services at the email address I have provided. I understand that my information may be supplemented with additional information obtained from other sources.

Recent News

Most say nation on wrong track, including Dems: AP-NORC poll

Peaky Blinders: The True Story Behind Alfie’s Uncle Charles Solomons

Categories

  • Business
  • Cryptocurrency
  • Economy
  • entertainment
  • finance
  • Georgia
  • health
  • Markets
  • Music
  • Politics
  • Real Estate
  • receipe
  • Science
  • science
  • Sports
  • Sports
  • Tech
  • Travel
  • World

Site Navigation

  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe

Capitalize Financial, a news portal which provides the financial news global wide.

  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe

© 2021 Capitalize Financial All Rights Reserved

No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
    • Home 1
    • Home 2
    • Home 3
    • Home 4
    • Home 5
  • World
  • Economy
  • Business
  • Markets
  • Real Estate

© 2021 Capitalize Financial All Rights Reserved