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Crude Futures Higher But Off Best Levels

OIL

Oil gained in Asia-Pac trade on Monday, WTI up $0.19 from settlement levels at $65.10/bbl, while Brent is up $0.23 at $68.51. The benchmarks are off best levels, peaking early on and coming off highs as the greenback rose.

  • Colonial Pipeline was subject to a cyberattack late Friday, which forced the company to temporarily shut its critical pipeline network supplying much of the East Coast of the U.S. with gasoline, diesel and jet fuel. Various source reports suggested that cybercriminal group DarkSide might be behind the attack, while official investigation is ongoing. The company said yesterday it is still working to full resume operations which could impact supply.

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