Gas Attack💥

Gas Attack

The energy sector has become a staple in the headlines during the pandemic. First came the lockdowns mixed with the Saudi-Russia oil war, and then oil went negative, and then the EV market exploded, and then energy consumption started to come back. Yes, there has been a lot. However, the sector is changing completely, with fossil fuels starting to die down as the world is moving towards renewable energy to fight climate change. Now, fossil fuels and gas are still in high demand, so you can imagine what a cyberattack would do.

The US has experienced many cyberattacks in the last few months, the most notable one being the SolarWinds hack perpetrated by Russia, which infiltrated many government organizations and led to a massive data breach. Many countries perform cyber hacks on other organizations or adversaries to gain an advantage, or to damage them through offensive cyber operations. This time, Russian group DarkSide performed a hack on a key pipeline in the United States. This pipeline is owned by Colonial Pipeline, and it holds special importance because it carries almost half of the fuel supplies for the East Coast as it stretches from New Jersey to Texas. Colonial refused to say when the pipeline would reopen, which presented many problems.

If the pipeline doesn’t open in time, it could send gas prices soaring along the East Coast. In general, gas prices rose by 4.2 percent on Monday, but many analysts predict that if the shutdown is continued, prices would continue to rise. Along with that, many airports along the East Coast rely on the pipeline for their jet fuel, namely the Baltimore-Washington International Airport and the Charlotte International Airport. It is very likely that a continued shutdown would deeply hurt these airports, and many flights could be delayed or canceled. Furthermore, oil prices also saw an increase, and many commodity indices were up on the day. If a prolonged shutdown occurs, it could affect the stock market in a negative way, so many hopes that Colonial can reopen the pipeline in the coming days. What do you think about this cyberattack?  

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.