The United States Suddenly Declared A State Of Emergency And Hackers Subverted The Global Economy
On May 9, local time, the United States declared a state of emergency because colonial pipeline, the largest U.S. oil pipeline operator, was forced to shut down its key fuel supply network in the eastern coastal states of the United States due to blackmail software attacks. The colonial pipeline transports about 2.5 million barrels of gasoline, diesel and aviation fuel every day, of which nearly half of the fuel supply on the east coast of the United States relies on this. President Biden has been briefed and is trying to help the company resume operations.
Affected by the incident, U.S. gasoline futures rose 4.2% to $2.217 a gallon in early trading on Monday, the highest since May 2018. In addition, U.S. heating oil futures also jumped to the highest level since January 2020. In terms of international oil prices, US WTI crude oil futures rose 1.08% to 65,59 USD / barrel, while Brent crude oil futures rose 1.1% to 69.03 USD / barrel.
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