Oil prices rise as traders weigh pipeline shutdown impact

Xinhua
12 May 2021, 02:00 GMT+10

NEW YORK, May 11 (Xinhua) -- Oil prices moved higher on Tuesday as traders followed updates on a vital U.S. fuel pipeline system.

The West Texas Intermediate for June delivery added 36 cents to settle at 65.28 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery increased 23 cents to close at 68.55 dollars a barrel on the London ICE Futures Exchange.

The Colonial Pipeline Company, operator of a main U.S. fuel pipeline that was forced to shut down due to a cybersecurity attack, said Monday that it was working to restore its operations.

The operator of the pipeline carrying gasoline and diesel fuel to U.S. east and southeast parts said that it aimed to restore operational service by the end of the week and a phased approach has being executed to facilitate a return to service.

The company temporarily halted all pipeline operations after the cybersecurity attack involving ransomware was detected on Friday.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Technology.

More Information

null in null

Computers

Section

TikTok building U.S.-only app amid pressure to finalise sale

CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...

China's development offers hope for Global South: Lebanese expert

BEIRUT, July 10 (Xinhua) -- China's continued development has not only brought profound benefits to its own people but also offered...

"10,000 people gather to watch a JCB...": Punjab CM takes jibe at PM Modi's visit to countries with tiny populations

Chandigarh (Punjab) [India], July 10 (ANI): Punjab Chief Minister Bhagwant Mann on Thursday welcomed Prime Minister Narendra Modi's...

Gujarat: Japanese Ambassador leads high-level delegation to Dholera Special Investment Region

Dholera (Gujarat) [India], July 10 (ANI): The Ambassador of Japan to India, Keiichi Ono, led a high-level delegation of leading Japanese...

Amazon adds Kevin Harlan, analysts to NBA broadcasts

(Photo credit: Mark J. Rebilas-Imagn Images) Amazon Prime Video has hired veteran broadcaster Kevin Harlan to call NBA games during...

Reports: Amazon adds Kevin Harlan, analysts to NBA broadcasts

(Photo credit: Mark J. Rebilas-Imagn Images) Amazon Prime Video has signed Kevin Harlan to call NBA games in the 2025-26 season,...

Internet

Section

TikTok building U.S.-only app amid pressure to finalise sale

CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...

Trump announces 35 per cent tariffs on goods imported from Canada

By Reena Bhardwaj Washington, DC [[US], July 11 (ANI): US President Donald Trump on Thursday (local time) announced that the US will...

Pakistan: ANP leader, police personnel shot dead in Khyber Pakhtunkhwa

Khyber Pakhtunkhwa [Pakistan], July 11 (ANI): Awami National Party (ANP) leader Maulana Khan Zeb and a police personnel were shot dead...

"Very bad sign of things escalating in Canada, Carney's first major test on security": Canadian journalist on Kap's Cafe attack

Vancouver [Canada], July 11 (ANI): Canadian journalist Daniel Bordman called the attack on a cafe owned by comedian Kapil Sharma a...

"Despite having evidence, criminals have not been punished," Kanhaiya Lal's son after HC stays release of 'Udaipur Files'

Noida (Uttar Pradesh) [India], July 11 (ANI): Yash Sahu, the son of Kanhaiya Lal, the tailor who was murdered in Rajasthan's Udaipur,...

"Will go to Supreme Court...": Producer Amit Jani after HC stays release of 'Udaipur Files'

Noida (Uttar Pradesh) [India], July 11 (ANI): After the Delhi High Court ordered a stay on the release of the film 'Udaipur Files:...