OIL: US Reports Crude & Product Stock Drawdowns

• CANADA PM CARNEY TO MEET GOVERNOR GENERAL AT NOON
• CARNEY EXPECTED TO SEEK ELECTION

Treasury has $163B of "extraordinary measures" remaining for authorities to use to fend off hitting the debt limit as of March 19, per the latest release of Treasury data. That's up from $86B on Mar 17 and a low of $34B on Feb 24.

• That's a little under half of the $377B in measures available to Treasury, with most of the amount remaining ($143B) coming from the so-called "G Fund".
• This headroom is in addition to $416B in cash left in the TGA, at last count.
• We haven't seen any changes recently to "x-dates" by when Treasury will run out of cash until the debt limit is lifted.
• Consensus still centers around late July/early August, but much will depend on April's major mid-month tax take. Treasury wrote to Congress last week that they would be able to provide an update on the x-date in the first half of May, after the conclusion of tax season.