Spot ethanol prices stretched gains by a penny at key regional trade hubs as rising summer demand offset an increase in supplies. Energy Information Administration data released late Thursday morning showed total supplies soared nearly 500,000 bbl to a 17.5 million bbl 13-month high, with demand also up 1% at 895,000 bpd for the week-ended May 23. Prompt transfer ethanol traded at $2.44 and $2.45 gallon at Argo, near Chicago, and at $2.80 gallon in California. For the New York Harbor, prompt ethanol traded at $2.45 gallon.
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