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Bearish Monday returned to the Fuel Markets again as Covid concerns were clearly visible in overseas demand data. Indonesia reported a 14% decline from the previous month in gasoline demand. China’s National Bureau of Statistics also fed the Bears reporting a decline in their purchasing manager’s index. In the US, the 7-day average of new Covid cases is 79K which is the highest rate since April 2021. Some companies are now edging back to remote working protocols. Not all news on Monday was Bearish, however. The TSA on Sunday recorded the highest traveler count since February 2020. The API releases their inventory statistics Tuesday and will help gauge the impact of Covid on US fuel demand.