Colonial pipelines resumed on Wednesday, allowing oil to begin arriving in the eastern US five days after the cyber disaster halted that caused oil to flow into oil depots.
Colonials said they reopened around 5pm in the morning, but warned that it could take “a few days for the goods to return to normal”.
Jennifer Granholm, the US secretary general of energy, confirmed the resumption of the tweet, noting that she had just spoken on the phone with the CEO of the Colonial Pipeline company.
The 5,500-mile pipeline can carry up to 2.5m barrels per day of fuel, and is the most difficult source of fuel for oil leaks from fossil fuels in the Orient. It was claim Last Friday after the FBI claimed I was being rescued by a hacking group called DarkSide.
The closure caused U.S. oil prices to plummet top $ 3 gallons Wednesday, the highest since 2014. Oil futures fell by almost 1%, to $ 2.14 per gallon, Wednesday evening, when Colonial announced the resumption of the pipeline.
Buying fear in some parts of the southeastern U.S. it led to shortages, while two-thirds of oil in North Carolina said it had no oil Wednesday afternoon while motorists stockpiled oil, according to GasBuddy.
“Now that the American people can finally have peace of mind that oil, diesel and jets will once again travel in the affected areas,” said Patrick De Haan, GasBuddy’s chief oil analyst.
However, restoring the pipeline, which previously carried about half of the oil used on the east coast, to its former highway takes time. Colonials said its markets could have “temporary disruption of employment during the early stages”.
“Colonials should move as much oil, diesel, and fuel as possible and will continue to do so until markets return to normal,” he added.
Jeff Lenard, vice president of corporate experiments at NACS, a retail agency, warned that oil flows between 3-5mph pipelines – or about 100 miles a day – meaning that it will take time for oil to be sent across the Gulf Coast to the northeast. .
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“I mean, it’s transportation, so if you want to know how long it will take, travel [from New York] to Houston. You need to wear big shoes, ”said Lenard.
Richard Joswick, head of oil analytics at S&P Global Platts, says oil exports to the U.S. in the northeast could fall for five years because panic attacks have exacerbated the decline caused by a five-day pipeline shortage.
Recovery could take “at least a few weeks” off the east coast as well as refinement of Gulf coast that has lost its fuel in recent days, he said.
European oil exporters had already begun tracking ships to increase shipments to the US, while Biden officials released some laws in recent days to allow more oil produced anywhere in the country to be exported or exported by car to eastern countries.