Ethanol Inventories Fall
NEW YORK (DTN) -- U.S. Energy Information Administration data released Wednesday shows ethanol inventories fell for the second straight week as domestic production tumbled to a 6-1/2 month low.
The report detailed a 35,000 barrel (bbl) decline in ethanol stocks during the week-ended May 1 to 20.762 million bbl while domestic production fell 34,000 barrels per day (bpd) to 887,000 bpd.
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On year-over-year basis, total stocks were 21.1% higher while production was down 0.8%.
Blender inputs, a gauge for ethanol demand, eased for the second straight week, down 5,000 bpd to 870,000 bpd for the week-ended May 1 while up 2.8% year over year.
Implied demand for gasoline fell 135,000 bpd last week to 8.785 million bpd, although 0.8% higher than the same week last year.
(BM/AG)
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