Ethanol Stocks at 3-Week High
NEW YORK (DTN) -- The Energy Information Administration released data Wednesday showing domestic ethanol inventories climbed to a three-week high last week on rising production while demand tumbled to a five-week low.
Total U.S. ethanol inventories increased for the third straight week during the week-ended Aug. 15, up 500,000 barrels (bbl), or 2.8%, to 18.3 million bbl while posting a 10.7% year-over-year gain, EIA said.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Stock increases were seen across the nation except along the PADD 3 Gulf Coast where supply declined and for the PADD 4 Rocky Mountains, where stocks held steady at 300,000 bbl.
In PADD 1 East Coast, stocks increased 400,000 bbl to a 6.5 million bbl three-week high, while PADD 2 Midwest supplies jumped 300,000 bbl to 6.3 million bbl. PADD 5 West Coast supply posted a build of 100,000 bbl to 2.2 million bbl, the data showed, while PADD 3 Gulf Coast stock fell 300,000 bbl to 3.0 million bbl.
Domestic ethanol production increased 6,000 barrels per day (bpd), or 0.6%, last week to 937,000 bpd, a four-week high, while 11% higher than a year prior and four-week average output was up 10%.
Blender inputs, a proxy for ethanol demand, were down 26,000 bpd, or 2.9%, at 864,000 bpd, a five-week low. Implied demand was down 4,000 bpd from a year earlier while four-week average input was up 1.6% from a year earlier. EIA reported no imports were received last week.
(BM/AG)
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