US gasoline, distillate stocks fall sharply; refinery runs dip amid Iran tensions

EIA data shows gasoline and distillate inventories fell by 1.7M and 2.3M barrels respectively, while refinery utilization dropped to 92.5% and crude stocks rose slightly. The drawdowns, set against rising oil prices and Iran tensions, signal tightening refined product supply, though the crude build tempers the bullish read.