Biden pivots - plans to refill SPR

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• Biden is seeking offers to refill the strategic petroleum reserve "SPR", the administration told CNN Thursday.
• The news hit Thursday, literally minutes after IEA chief Birol said "we can release more oil if needed."
• The update from the White House is long dated, with 60mb to be refilled in "unspecified future years."
• The White House has thus far announced plans to release 180mb from the SPR this year.
• The refill is a logical step, and shouldn't come as surprise; however, the timing and mixed-messaging from the US and IEA are likely to support crude prices (NYSEARCA:USO), and in fact, oil prices (CL1:COM) jumped ~$1.00/b as news hit the wire (XLE).