A cyber attack in the United States affects oil transportation. If the consequences persist, oil and gasoline could become even more expensive in this country.
DRamatic events in America are not only preoccupying the global oil market: A hacker attack on a pipeline company in the United States on Friday caused the oil price to rise all over the world and also raises fears that similar attacks could also cause serious damage in Germany. Especially if the interruption of the oil supply lasts longer than five days, one has to expect rising prices, said Giovanni Staunovo, oil analyst at the UBS bank.
The affected Colonial Pipeline Company did not give a date on Monday when it could start operating its pipeline system again. According to the company, it is working on a plan that will initially open smaller sections, but leave the main pipes closed. Colonial has been targeted by a hacker and had ceased operations as a precaution. The company supplies the east coast of the United States with gasoline, aviation fuel and diesel from refineries in Texas and storage tanks along the pipeline. It ensures around 45 percent of the fuel supply on the east coast; the main pipe systems run from Texas and Louisiana to New Jersey. Colonial is a joint venture between Royal Dutch Shell, Koch Industries and financial investors.