Ethanol Production at 5-Month High
NEW YORK (DTN) -- U.S. ethanol stocks rose 100,000 barrels (bbl) to 20.2 million bbl while up 9.9% year on year during the week-ended June 5, with domestic ethanol production rising to a 5-1/2 month high, according to a report by the U.S. Energy Information Administration released Wednesday.
Regionally, a massive supply draw of 600,000 bbl along PADD 3 Gulf Coast was offset by sizable stock increases in PADD 1 East Coast and PADD 2 Midwest, where supplies surged 300,000 bbl and 400,000 bbl, respectively.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
The EIA report showed domestic production rose 20,000 barrels per day (bpd), or 2.0%, to 992,000 bpd last week, the highest since Dec. 19, 2014, while up 5.1% year on year.
Blender inputs, a gauge for ethanol demand, rose 10,000 bpd, or 1.1%, to 884,000 bpd, while up 1.7% year on year.
Implied gasoline demand remained volatile, spiking 622,000 bpd to 9.6 million bpd last week after sinking over 750,000 bpd the week prior. Year over year, implied gasoline demand last week is up 976,000 bpd, or 11.3%, from the comparable year-ago period, EIA data showed.
(BM/AG)
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