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5/12/2021, 11:25 PM (Source: TeleTrader)
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Colonial restarts pipeline operations

Colonial Pipeline Company announced that they have restarted its pipeline operations five days after shutting down due to the DarkSide ransomware cyberattack.

Issuing a statement following the restart, the company warned that it will take "several days for the product delivery supply chain to return to normal," adding that some markets may continue to see "intermittent service interruptions" following the start-up. However, Colonial stated that will move refined petroleum products "as much as safely possible" until markets return to normal, and that their focus remains on safety, as the restart is followed by pipeline safety assessments.

Meanwhile, the Biden administration unveiled its efforts to mitigate the damage done to the US fuel supply, and officials stated they would not tolerate any price gouging in light of the "supply crunch."

Baha Breaking News (BBN) / OL