Volatility is still weighing on oil markets, U.S. Energy Secretary Jennifer Granholm said Saturday, reiterating calls for additional supplies. Asked to comment on the state of oil markets, she told CNBC's Sri Jegarajah that "there's no doubt that there is a volatile environment, and ... there's plenty of indebtedness" — a situation that the White House is monitoring. "There is a lot of emotion in these markets and so we have deep concern about trajectories of where things are headed," the energy secretary added. Granholm said she expects oil demand in the U.S. to increase to 12.5 million barrels per day this year, and to make further gains in 2024. High crude oil prices continue to be a challenge for the Biden administration, and lowering costs remains a priority.

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Persons: Jennifer Granholm, CNBC's, Granholm, —, Biden Organizations: U.S . Energy, Organization of, Petroleum, Coalition, Saudi, Washington Locations: U.S, OPEC, Saudi Arabia, Russia