Colonial’s network supplies fuel to US refiners from the Gulf Coast to the United States of South and East America. The company transports 2.5 million barrels per day of gasoline, diesel, jet fuel and other refined products through 8,850 km of pipelines.
Colonial Pipeline says it carries 45% of the East Coast’s fuel supply.
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The company learned of the attack on Friday and took the systems offline to contain the threat, it said in the statement. This action temporarily halted operations and affected some of its IT systems, he said.
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The company hired a third-party cybersecurity company to launch an investigation, and Colonial contacted law enforcement and other federal agencies, he said.
Colonial did not give more details or say how long its pipelines would be closed.
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Reuters reported earlier Friday that Colonial had shut down its main gasoline and distillate lines.
During Friday’s trading session, Gulf Coast gasoline and diesel spot prices edged down.
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Gasoline and diesel futures on the New York Mercantile Exchange rose more than crude prices during the day. Gasoline futures rose 0.6% to $ 2.1269 per gallon, while diesel futures rose 1.1% to 2.0106 $ per gallon.
The longer-term price effects will depend on how long the lines are closed. If barrels are unable to reach the lines, Gulf Coast prices could decline further, while New York Harbor prices could rise, a market player said.
Colonial significantly shut down its gasoline and distillate lines during Hurricane Harvey, which hit the Gulf Coast of Mexico in 2017.
Meanwhile, gasoline prices on the Gulf of Mexico coast hit a five-year high, while diesel prices hit a roughly four-year high.
(Report by Stephanie Kelly edited by Simon Webb, Shri Navaratnam and Gareth Jones)