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UPDATE 1-Traders book tankers to store fuel after U.S. pipeline outage

05/11/2021 05:34
UPDATE 1-Traders book tankers to store fuel after U.S. pipeline outage

Adds details

By Ron Bousso

- Traders booked at least four tankers to store refined oil products off the U.S. Gulf Coast refining hub following a cyber attacks that knocked out the top U.S. pipeline, shipping data showed on Tuesday.nL1N2MX0S1

The attack on the Colonial pipeline network, which supplies half of the fuel consumed along the East Coast, has forced Gulf Coast refineries to scale back operations due to lack of storage space.nL1N2MX2E3

The tankers, booked by Marathon Petroleum MPC.N, Valero Energy VLO.N, Phillips 66 PSX.N and PBF Energy PBF.N, can hold around 350,000 tonnes of fuel. Two of them were booked for up to 30 and 40 days, according to the data.

Colonial on Friday shut its 5,500-mile (8,850-km) pipeline network, which moves fuels including gasoline, diesel and jet fuel, to protect its systems. It has restarted some smaller lines.



(Reporting by Ron Bousso and Jonathan Saul, editing by Louise Heavens)

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