UPDATE 1-US crude stocks fall sharply following Hurricane Isaac-EIA

* Gasoline demand at one-year high-EIA
* Refinery utilization falls sharply in Gulf Coast
* U.S. gasoline inventories drop below 200 million bbls

(Adds detail, analyst comment, price reaction, table)
—— API —— —— EIA —–
Stocks Change Change Stocks Change Change
08/31/12 from from 08/31/12 from from
pvs wk yr-ago pvs wk yr-ago
Crude 35

Source: Reuters: Energy

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