The daily business briefing: May 10, 2021

Gasoline futures rise after pipeline cyberattack, Fed official says not to "overreact" to disappointing jobs report, and more

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1. Gasoline futures rise after pipeline cyberattack

Gasoline futures rose by 1.6 percent to $2.162 per gallon early Monday on concerns that the cyberattack that forced the shutdown of the Colonial Pipeline, which carries nearly half of the East Coast's fuel from Texas, could disrupt supplies. Oil futures rose, too. Colonial said some systems were back up but its main line remained closed. Investigators believe the hack was the work of a Russian criminal gang called DarkSide that claims to steal from wealthy companies and give a portion to charities, two people close to the investigation told The Associated Press on Sunday. The pipeline remained closed for a third day on Sunday as the Biden administration said it was undertaking an "all-hands-on-deck" effort to reopen it. President Biden is preparing an executive order strengthening cybersecurity.

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