OMVKY - Weekly oil supply/demand roundup - crude up ~$8.00 from last Friday's close

This week's DOE inventory update showed a larger than expected 10.9mb draw in oil and oil products (USO). TSA checkpoint data pointed to a ~1% increase in passenger volume week on week (JETS). California announced plans to provide a $400 payment per registered vehicle to consumers. The UK cut taxes on fuel by 5 pence per liter. Germany announced plans to provide a €300 payment to taxpayers, and cut the gasoline tax. Delaware proposed a $300 payment to taxpayers to address inflation. Georgia suspended state gasoline taxes. Maryland suspended state gasoline taxes. A terminal servicing the ~1mb/d CPC pipeline in Russia was damaged, with the outage expected to restrict supply for up to two months; however, the terminal is partially functioning, according to the latest reports. OMV (OTCPK:OMVKY) and Shell (SHEL) suspended sales of spot diesel and premium gasoline in Europe. Houthi rebels stepped up attacks on Saudi (ARMCO) energy

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Weekly oil supply/demand roundup - crude up ~$8.00 from last Friday's close