TOP U.S. FUEL PIPELINE OPERATOR SHUTS NETWORK AFTER CYBER ATTACK

Top U.S. fuel pipeline operator Colonial Pipeline has shut its entire network, which supplies fuel from U.S refiners on the Gulf Coast to the eastern and southern United States, after a cyber attack that industry sources said was caused by ransomware software. The company transports 2.5 million barrels per day of gasoline, diesel, jet fuel and other refined products through 5,500 miles (8,850 km) of pipelines, and transports 45% of East Coast fuel supply. Colonial shut down systems to contain the threat after learning of the attack on Friday, it said in a statement. That action has temporarily halted operations and affected some of its IT systems, the company said. The malicious software used in the attack was ransomware, two cybersecurity industry sources familiar with the matter said. Ransomware is a type of malware that is designed to lock down systems by encrypting data and demanding payment to regain access. | Reuters