Oil prices settled higher on Monday after a major U.S. fuel pipeline said it could largely restart within the week after a cyberattack forced its shutdown.
Brent crude settled up 4 cents, or 0.1%, at $68.32 a barrel.
U.S. West Texas Intermediate (WTI) crude settled up 2 cents, or 0.03% at $64.92. Both
Potential U.S. demand growth boosted crude prices, offsetting fears that a resurgent coronavirus pandemic in India would cut demand in Asia.
Colonial Pipeline, the largest fuel pipeline in the United States, said on Monday it expects to “substantially” restore operational service by the end of the week.
The system was shut by a cyberattack on Friday, and by Sunday some minor conduits had been reopened while the main lines remained shut.
Reference: Reuters
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