Colonial Pipeline Latest, Panic at the Pumps, and Stocks to Watch
Colonial Pipeline has announced it has resumed operation following a cyberattack that led gasoline prices to soar in the southeast and mid-Atlantic United States. The company added that it will take several days for the supply chain to be fully restored.
Everything we know so far:
- The hacker group DarkSide is claiming responsibility and says they hit three other companies, according to reports.
- U.S. gas prices tested 2014 highs, according to TheStreet's Martin Baccardax.
- New York jet fuel prices have reached their highest levels in 16 months, according to CNBC.
- Until the pipeline is fully restored, there could be more localized fuel shortages across the southeast and mid-Atlantic regions.
- According to Jim Cramer, Enterprise EPD, Kinder Morgan KMI, Chevron CVX, and Pioneer Natural Resources PXD are among the stocks to watch.
Editor's Note: This video was produced by TheStreet's Zachary Fauld.
