BKR - Weekly oil supply/demand roundup - crude down ~$14.5 from last Friday's close

This week's DOE inventory update showed a smaller than expected 1.2mb draw in oil and oil products (NYSEARCA:USO). TSA checkpoint data pointed to a ~3% decrease in passenger volume week on week (JETS). Japan raised the country's gasoline subsidy to its upper limit, ~80c per gallon. A fire at the Exxon (XOM) refinery in Billings impacted oil product supplies. A fire at a Suncor (SU) refinery in Edmonton could extend a planned maintenance outage. YPF (YPF) cited "diesel scarcity" in the seaborne market. Biden announced targets for new vehicle sales to average 49mpg by 2026. The White House announced plans to release 180mb from the US SPR; called on Congress to pass "use it or lose it" legislation for producers on federal lands. Allies announced plans to coordinate an SPR release, following the White House announcement. Russia's Transneft capped oil flows into its midstream system, citing tank tops. Kazakhstan loadings

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Weekly oil supply/demand roundup - crude down ~$14.5 from last Friday's close