EIA: Ethanol Stocks, Demand Higher
NEW YORK (DTN) -- U.S. Energy Information Administration released a report midmorning showing ethanol stocks in the United States rose to a four-week high, while implied demand increased to the highest level since the agency started keeping ethanol records in June 2010.
The EIA reported total ethanol stocks surged 374,000 bbl to 19.002 million bbl during the week-ended Aug. 28, with a year-over-year stock surplus at 7.5%. The stock increases were seen along PADD 3 Gulf Coast and PADD 2 Midwest regions, while PADD 1 East Coast and PADD 5 West Coast supplies were drawn down.
Ethanol imports of 12,000 bpd were reported along PADD 5 West Coast.
The report showed domestic ethanol production tumbled to the lowest level since early May, down 4,000 bpd to 948,000 bpd while up 2.9% year-on-year.
Blender inputs, a gauge for ethanol demand, rose last week by 18,000 bpd or 2.0% to a record high of 921,000 bpd while up 4.7% versus a year earlier.
EIA data shows implied demand for gasoline remains volatile, rising 249,000 bpd to 9.438 million bpd, with the four-week average through Aug. 28 4.8% above the comparable year-ago period at 4.8%.
(BM/ES)
Copyright 2015 DTN/The Progressive Farmer. All rights reserved.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]