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June 25
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Top U.S. fuel pipeline operator Colonial Pipeline has shut its entire network after a cyberattack, the company said in a statement, Reuters reported.

Colonial's network supplies fuel from U.S refiners on the Gulf Coast to the populous eastern and southern United States. The company transports 2.5 million barrels per day of gasoline, diesel, jet fuel and other refined products through 5,500 miles of pipelines.

Colonial Pipeline says it transports 45 percent of East Coast fuel supply.

The company learned of the attack on Friday and took systems offline to contain the threat, it said in the statement. That action has temporarily halted operations and affected some of its IT systems, it said.

The company has engaged a third-party cybersecurity firm to launch an investigation, and Colonial has contacted law enforcement and other federal agencies, it said.

Colonial did not give further details or say for how long its pipelines would be shut.

During the trading session on Friday, Gulf Coast cash prices for gasoline and diesel edged lower.

Longer-term price effects will depend on the amount of time that the lines are shut.

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