The oil complex strengthened Wednesday, led by NYMEX July RBOB, after US Energy Information Administration data showed gasoline demand jumping 622,000 b/d and crude stockpiles falling 6.812 million barrels. NYMEX July RBOB settled 6.93 cents higher at $2.1464/gal. On a per barrel basis, that was equivalent to a $2.91 increase. NYMEX July ULSD settled 2.8 cents higher at $1.9459/gal. NYMEX July crude settled up $1.29 at $61.43/b, while ICE July Brent settled 82 cents higher at $65.70/b. With implied demand rising, gasoline stocks fell 2.939 million barrels to 217.354 million barrels last week. Analysts had been looking for a 500,000-barrel draw. “The fact that we’re drawing with production near a record-high suggests strong demand,” Jim Ritterbusch, president of Ritterbusch & Associates said. Gasoline production rose 599,000 b/d last week to 10.007 million b/d, just below the all-time high of 10.195 million b/d in December 2014, according to EIA data […]