Implied gasoline demand jumps 6.8% to 9.12 million b/d Commercial crude stocks spike by 5.5 million barrels Gasoline stocks plunge by 5 million barrels US gasoline demand rose for the week ended Aug. 5 after previously showing counter-seasonal weakness, but commercial crude inventories surprisingly and bearishly spiked by much more than anticipated, according to weekly data released Aug. 10 by the US Energy Information Administration. The mixed-bag inventories report showed that fuel demand is still relatively strong, while the weekly data on commercial crude stocks was impacted in part by rising domestic oil production and temporarily weaker crude exports. However, energy analysts were watching the implied gasoline demand more closely this week after weakness during recent weeks pointed to signs of demand destruction. Implied gasoline demand rose to 9.12 million b/d, up from 8.54 […]