Ethanol Stocks Dip to 6-Week Low
NEW YORK (DTN) -- U.S. ethanol supplies fell to a six-week low despite an increase in production, according to data released Wednesday, March 18, by the Energy Information Administration.
Total ethanol stockpiles fell for the third straight week, down about 400,000 barresl (bbl), or 1.7%, to 20.8 million bbl during the week-ended March 13. Total supplies are 5.5 million bbl, or 36.3%, higher than during the comparable year-ago period.
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Regionally, the most noticeable stock change was in the PADD 1 East Coast where inventories were down 300,000 bbl at 7.2 million bbl. PADD 2 Midwest supplies were drawn down 100,000 bbl to 7.0 million bbl while stocks in other regional hubs were unchanged.
Plant production increased for the second straight week, edging up 3,000 barrels per day (bpd) to 947,000 bpd while up 6.3% year-over-year. Output during the four weeks ended March 13 averaged 5.9% higher than the corresponding period in 2014.
Blender inputs, a proxy for ethanol demand, increased 23,000 bpd, or 2.7%, to 863,000 bpd last week while up 2.1% year-over-year. Inputs over the most recent four-week period are up 0.8% from the comparable year-ago period.
EIA reported implied demand for motor gasoline increased 745,000 bpd to 9.26 million bpd, while 8.8% higher than the same week last year.
(BM/AG)
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