US RBOB, ULSD prices rally on Colonial shutdown before easing

London (Quantum Commodity Intelligence) – US RBOB and ULSD futures trading in pre-New York opening Monday rallied as Colonial's east coast pipeline remained down following the weekend cybersecurity attack, although prices had eased back from the highs by 0415 GMT

NYMEX June RBOB rallied to a high of $2.217/gal compared to Friday's settlement of $2.1269, before easing back to $2.1568/gal.

Likewise, NYMEX June ULSD hit a high of $2.0776/gal vs Friday's close of $2.0106/gal, before slipping back to $2.0314./gal, up 2.54 cents.

System operator, Colonial Pipeline, said late Friday that it had shut down its 5,500 miles of pipeline, which it says carries 45 percent of the East Coast's fuel supplies, in an effort to contain the breach.

Colonial's pipeline transports 2.5 million barrels each day, taking refined gasoline, diesel fuel and jet fuel from the Gulf Coast up to New York Harbor and New York's major airports.