U.S. gasoline stocks saw a significant decrease, falling by 1.6 million barrels compared to the previous increase of 4.125 million barrels. This marks a substantial reversal, indicating a drop of 5.725 million barrels from the prior level.
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The actual decline in gasoline stocks was larger than the analyst estimate of a 1.05 million barrel decrease. This unexpected drawdown is likely to boost energy sector stocks, particularly those involved in refining and distribution, as reduced supply may lead to higher gasoline prices. The market impact could be short-term, driven by immediate sentiment shifts regarding supply constraints.