{"id":8339,"date":"2021-05-12T15:29:00","date_gmt":"2021-05-12T12:29:00","guid":{"rendered":"https:\/\/roboforex.com\/blog\/?p=8339"},"modified":"2023-06-22T18:01:43","modified_gmt":"2023-06-22T15:01:43","slug":"us-largest-pipeline-in-standby-whats-with-oil-prices","status":"publish","type":"post","link":"https:\/\/roboforex.com\/blog\/2021\/05\/12\/us-largest-pipeline-in-standby-whats-with-oil-prices\/","title":{"rendered":"US Largest Pipeline in Standby: What\u2019s with Oil Prices?"},"content":{"rendered":"\n

You must have noticed that this week, your feed is flooded by news about oil, Brent<\/a> and WTI prices. I consider it my duty to figure out what’s going on in the world oil market, what the fuss is all about, and what consequences we should expect.<\/p>\n\n\n\n

<\/span>Colonial Pipeline work paused due to a cyberattack<\/span><\/h2>\n\n\n\n

On May 7th, Colonial Pipeline reported a cyberattack. To solve the problem, they had to shut down certain electronic control systems, which put the work of the US largest pipeline to a halt.<\/p>\n\n\n\n

According to Bloomberg, the hackers (presumably belonging to the DarkSide group), hacked the company’s information system, stole almost a terabyte of its internal data, and required a ransom.<\/p>\n\n\n\n

When I was writing this article, the pipeline wasn’t working normally yet. Official sources promise that things will get back to normal at the end of the week.<\/p>\n\n\n\n

<\/span>Important details about the pipeline<\/span><\/h2>\n\n\n\n