Gasoline stocks fall 6.08 million barrels Implied demand hits 10.04 million b/d Crude stocks draw 6.87 million barrels US gasoline stocks moved sharply lower in the week ended July 2 as implied demand surged to an all-time high ahead of the July 4 holiday weekend, US Energy Information Administration data showed July 8. Total US gasoline inventories declined 6.08 million barrels during the week ended July 2 to 235.5 million barrels, EIA data showed, leaving inventories 1.5% behind the five-year average, opening the widest deficit since late May. It was the largest one-week draw-down in gasoline stocks since the week ended March 5. The EIA-reported inventory draw was more than double market expectations and sent NYMEX RBOB futures sharply higher. The front-month August RBOB contract settled up 4.92 cents at $2.2552/gal. Gasoline stocks tightened […]