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After pipeline cyberextortion attempt, gas prices ticks higher

May 10, 2021 47 FILE - In this Sept. 8, 2008 file photo traffic on I-95 passes oil storage tanks owned by the Colonial Pipeline Company in Linden, N.J. A major pipeline that transports fuels along the East Coast says it had to stop operations because it was the victim of a cyberattack. Colonial Pipeline said in a statement late Friday that it “took certain systems offline to contain the threat, which has temporarily halted all pipeline operations, and affected some of our IT systems.” (AP Photo/Mark Lennihan, File) UPDATE: The operator of a major U.S. pipeline hit by a cyberattack said Monday it hopes to have service mostly restored by the end of the week.

U S Gasoline Futures Rise 1 5% After Colonial Pipeline Ransomware Attack

U.S. Gasoline Futures Rise 1.5% After Colonial Pipeline Ransomware Attack On 5/10/21 at 11:10 AM EDT A cyberextortion attempt on the Colonial Pipeline had gasoline futures up 1.5% on Monday after a ransomware attack brought pipeline operations to a halt. The pipeline is responsible for the delivery of about 45% of all fuel consumed on the East Coast, according to the company, transporting fuel between the Gulf Coast and Northeast. The company told the Associated Press on Saturday that the attack was executed by DarkSide, a criminal cybergang. Colonial Pipeline is still restarting portions of its network and said Sunday that its main pipeline was still offline. The attack could further increase prices if the company is unable to resolve the attack for a period of time.

Colonial Pipeline: Gasoline higher after cyberextortion attempt

Updated: 1:07 AM PDT May 11, 2021 The Associated Press Hit by a cyberattack, the operator of a major U.S. fuel pipeline said it hopes to have services mostly restored by the end of the week as the FBI and administration officials identified the culprits as a gang of criminal hackers.U.S. officials sought to soothe concerns about price spikes or damage to the economy by stressing that the fuel supply had so far not experienced widespread disruptions, and the company said Monday that it was working toward “substantially restoring operational service” by the weekend.The White House said in a statement late Monday that it was monitoring supply shortages in parts of the Southeast and that President Joe Biden had directed federal agencies to bring their resources to bear.Gasoline futures are ticked higher Monday following a cyberextortion attempt on a vital U.S. pipeline that carries fuel from the Gulf Coast to the Northeast.The Colonial Pipeline transports gas

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