U.S. oil futures finish slightly higher as traders weigh pipeline shutdown impact

U.S. oil futures settled just a pennies higher on Monday as traders weighed the impact of the shutdown of the largest U.S. fuel pipeline due to a ransomware attack. Colonial Pipeline said it has a plan with a goal to “substantially” restore operational service by the end of the week. If this is the case, the gasoline market “will only have a few spot shortages,” said James Williams, energy economist at WTRG Economics. June West Texas Intermediate crude rose 2 cents, or 0.02%, to settle at $64.92 a barrel on the New York Mercantile Exchange.

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