Crude oil futures ended marginally higher on Monday after a ransomware attack forced the shutdown of pipelines supplying around 45% of fuel to the East Coast. Alpharetta, Ga.-based Colonial Pipeline Co., which operates the 5,500-mile Colonial Pipeline system that transports fuel from Gulf Coast refineries to the East Coast, said over the weekend that it was the victim of a cyberattack and had temporarily shut down pipeline activity to contain the threat. Besides, oil prices found some support on hopes energy demand in the US and Europe will increase thanks to the re-opening of economies.
Crude oil futures for June rose 2 cents or 0.03 percent to settle at $64.92 barrel on the New York Mercantile Exchange. July Brent crude gained 4 cents or nearly 0.1 percent to settle at $68.32 a barrel on London's Intercontinental Exchange.