45 days ago • Posted by Jasper Lawler

RBOB Gasoline Futures Spike 4% as US declares State of Emergency over Colonial Pipeline cyber attack

Colonial said that it is "in the process of restoring service to other laterals and will bring our full system back online only when we believe it is safe to do so, and in full compliance with the approval of all federal regulations."

Meanwhile, downstream customers, which includes pretty much the entire Eastern seaboard, are starting to freak out as they face a new week without the primary source of gasoline supply for hundreds of millions of customers.

In response to the news, gasoline futures jumped 4% to $2.21 a gallon, approaching the highest since 2014. WTI and Brent both spiked more than 1%, while other products such as diesel and jet fuel are also likely to jump.

Source: Zero Hedge

RBOB Gasoline Futures Spike 4% as US declares State of Emergency over Colonial Pipeline
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