Oil

President Biden said "don’t panic" amid the gas shortage following the ransomware attack on Colonial Pipeline, while warning gas stations against "price gouging" and taking advantage of consumers, and maintaining that the U.S. will "return to normal" in the next several days.

Colonial Pipeline Co. may have paid between $4 million and $5 million to hackers in order to get its pipeline back up and running.

Stock investors shifted back to buying mode after a drop in jobless claims outweighed another hot inflation report.

The Colonial Pipeline has returned to operations following a cyberattack that snarled gas supply for the eastern U.S. for days, according to Energy Secretary Jennifer Granholm.

The Colonial Pipeline returned to operation on Wednesday following a cyberattack that snarled gas supply for the eastern U.S. for days.

The U.S. Department of Homeland Security has approved a Jones Act waiver request to an individual company to ease fuel supply constraints between Gulf Coast and East Coast ports, Secretary Alejandro Mayorkas said in a statement.

President Joe Biden signed an executive order Wednesday meant to strengthen U.S. cybersecurity defenses in response to a series of headline-grabbing hacking incidents that highlight how vulnerable the country’s public and private sectors are to high-tech spies and criminals operating from half a world away.

Fuel shortages that have slammed the East Coast are starting to wind down as the Colonial Pipeline has restarted service following a cyberattack last week by Russian ransomware group DarkSide.

The more than six-decade-old Line 5 pipeline transports up to 23 million gallons of oil and natural gas liquids per day from Superior, Wisconsin to Sarnia, Ontario, taking a shortcut through Michigan and along the lake bottom of the Straits of Mackinac.

"We said that we would keep the middle seat open until customers are comfortable sitting there and the experts tell us it’s the right time to sell," Bastian explained to TODAY on Wednesday. "We were sold out on our planes right through April. There were no seats available, the demand was strong to be on Delta."

Arkansas Gov. Asa Hutchinson on the Colonial Pipeline cyberattack and how the U.S. needs to remain energy-independent.

The ransomware gang responsible for the Colonial Pipeline attack claims it’s driven by money, not politics, and even insists it has a charitable streak.