Colonial Pipeline says it aims to ‘substantially’ restore service by end of week after ransomware attack

Colonial Pipeline on Monday afternoon said it aimed to “substantially” restore service on its system, which provides around 45% of refined fuel needs to the U.S. East Coast, by the end of the week after suffering a ransomware attack that forced it to shut down its pipeline over the weekend to contain the threat. The Alpharetta, Georgia-based company, in a statement, said segments of its pipeline were being brought back online “in a stepwise fashion, in compliance with relevant federal regulations and in close consultation with the Department of Energy, which is leading and coordinating the Federal Government’s response.” Oil futures were slightly lower, with the U.S. benchmark off 10 cents, or 0.2%, at $64.80 a barrel on the New York Mercantile Exchange. Gasoline futures , which had rallied earlier in the day, were up just 0.1% at $2.1289 a gallon.

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