Ethanol Stocks at 4-Week High
NEW YORK (DTN) -- The Energy Information Administration released data Wednesday, July 9, showing U.S. ethanol inventories rose last week to a four-week high while production declined.
Total U.S. ethanol inventories increased 100,000 barrels (bbl), or 0.5%, to 18.3 million bbl during the week-ended July 4 while 2.6 million bbl, or 16.3%, higher than a year earlier.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Stocks increased in all regions except along PADD 1 East Coast that saw a 200,000 bbl draw to 6.7 million bbl and in the Rocky Mountains region that saw supplies holding steady at 300,000 bbl. PADD 2 Midwest stocks advanced 200,000 bbl to 6.3 million bbl last week, the highest supply level for the region since early April.
Domestic ethanol production decreased 26,000 barrels per day (bpd), or 2.7%, to 927,000 bpd last week, although still 5.2% higher than a year ago. Four-week average output was up 8.3% at 948,000 bpd.
Blender inputs, a proxy for ethanol demand, held steady at 883,000 bpd for the week profiled, while down 1.45% from a year earlier. Four-week average input was up 1.6% from a year earlier.
EIA reported ethanol imports at 9,000 bpd last week, with the overseas supply received along the West Coast.
(BM/AG)
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