Shares of energy companies fell alongside oil futures as a pipeline outage that caused gasoline shortages in some cities was set to be resolved.
The Colonial Pipeline, the largest gasoline conduit in the U.S., resumed service on the 5,500 pipeline between the Gulf Coast and New Jersey almost a week after a cyber attack forced it to shut down.
President Joe Biden urged consumers to be patient and avoid panic buying as gasoline availability gradually returned to normal.
Oil and gasoline prices fell by roughly 3% as the restoration of pipeline service eased supply fears.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-13-21 1624ET
