The largest pipeline in the US for transporting fuel shut down following a cyber attack.
The attack had an impact on fuel prices and created shortages resulting in some gas stations having to close.
An investing strategist breaks down how investors can capitalize on the attack over the short and long-term.
For six days, a hacker group held the largest pipeline system for refined oil products in the US, Colonial Pipeline, at ransom via a cyber attack.
This resulted in the shutdown of a 5,500 mile pipeline used to transport millions of barrels of fuel between Texas and the East Coast, causing fuel shortages and a rise in gas prices in the south east of the country in particular.
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Sitting just around all-time highs, stocks are in an uncertain spot.
Michael Cuggino says the best opportunities are in longer-term relative values.
He says we ve begun a new commodity bull cycle that will last several years.
A year on from one of the worst crashes in history, equity markets are at an uncertain point.
Valuations are historically high thanks in part to low interest rates, and although much of the economic recovery still lies ahead, forward earnings expectations are priced into much of the market already. All three major US stock indexes sit near their all-time high marks.
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According to Goldman Sachs, the demand for these products is not increasing along with supply, thus causing inflationary pressures (as for oil)
“It’s all looking one way for commodities. ” that’s what Goldman Sachs (GS) analysts, led by Jeffrey Currie, said in a note to clients, claiming that with the entire industry in structural deficit (except for cocoa and zinc) a new bull market is taking shape.
Keyword REV: Lockdowns have driven a wedge between the consumption of services and goods, generating additional demand from both households and governments looking to stimulate activity while minimizing the virus spread , said GS analysts. According to the experts, it is possible to understand such a scenario by looking at redistribution policies, environmental policies, and versatility in supply chain initiatives, all summarized by the acronym REV.
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Silver and platinum will outperform gold in 2021 as the economy recovers and industrial demand supports higher metals prices, says UBS
Silver and platinum will outperform gold in 2021 as the economy recovers and industrial demand supports higher metals prices, says UBS
Emily GraffeoJan 13, 2021, 01:47 IST
Emmanuele Contini/Getty
UBS Global Wealth Management strategists said silver and platinum will outperform gold in 2021 as the economy recovers and industrial demand picks up. A greater focus from policymakers on renewable energy and decarbonization in 2021 may also help silver. According to UBS, more than 50% of silver used in industrial applications is linked to solar panels and electronics.