May 12, 2021
TeeRoy s 2 Cents:
Americans are being asked not to hoard gasoline or even fill up their tanks if they don t need to.
Telling Americans not to panic often makes them panic even more.
The pipeline shutdown is impacting states from Texas to New Jersey.
The Russian ransomware attack on the Colonial Fuel Pipeline last week forced the fuel distributor to shut down. Colonial hopes to resume service by the end of this week. Despite warnings about panic buying and hoarding gasoline, many people have been waiting in long lines to fill up the tank, and some stations have been jacking up their prices. S&P s Oil Price Information Service reports more than 1000 stations are experiencing shortages.
May 12, 2021
TeeRoy s 2 Cents:
Americans are being asked not to hoard gasoline or even fill up their tanks if they don t need to.
Telling Americans not to panic often makes them panic even more.
The pipeline shutdown is impacting states from Texas to New Jersey.
The Russian ransomware attack on the Colonial Fuel Pipeline last week forced the fuel distributor to shut down. Colonial hopes to resume service by the end of this week. Despite warnings about panic buying and hoarding gasoline, many people have been waiting in long lines to fill up the tank, and some stations have been jacking up their prices. S&P s Oil Price Information Service reports more than 1000 stations are experiencing shortages.
May 12, 2021
TeeRoy s 2 Cents:
Americans are being asked not to hoard gasoline or even fill up their tanks if they don t need to.
Telling Americans not to panic often makes them panic even more.
The pipeline shutdown is impacting states from Texas to New Jersey.
The Russian ransomware attack on the Colonial Fuel Pipeline last week forced the fuel distributor to shut down. Colonial hopes to resume service by the end of this week. Despite warnings about panic buying and hoarding gasoline, many people have been waiting in long lines to fill up the tank, and some stations have been jacking up their prices. S&P s Oil Price Information Service reports more than 1000 stations are experiencing shortages.
- May 11, 2021, 11:09 AM
If the ransomware cyberattack on the operators of the Colonial Pipeline drags on, it could have a major impact on jet fuel supplies for the East Coast of the U.S.
The continuing cyberattack on the Colonial Fuel Pipeline, which runs from Texas up the East Coast and supplies nearly half of the region’s petroleum fuels, including jet-A, is raising some concerns among the business aviation industry. Pilots are reporting that they are now being advised by their home-base FBOs to top off aircraft in the face of possible shortages if the situation extends longer.
According to Denton Cinquegrana, chief oil analyst with the Oil Price Information Service (OPIS) by IHS Markit, Jet fuel spot markets have not necessarily seen prices spike in the Gulf Coast or New York Harbor, however, visibility into the downstream terminals is more limited and from what we can see, prices are significantly higher than spot due to no resupply arriving with the Colonial Pipeline b