US Ethanol Stocks at 1-1/2-Year High
NEW YORK (DTN) -- The Energy Information Administration released data Wednesday showing ethanol inventories in the United States soared to a 1-1/2 year high last week, as domestic production rose to a four-week high while demand fell to a 4-1/2 month low.
The data detailed an 800,000 barrel (bbl), or 4.4%, spike in domestic stocks to 18.8 million bbl during the week-ended Sept. 12, the highest since the week-ended Mar. 1, 2013, with four of the nation's five regions seeing stock increases between 100,000 bbl and 300,000 bbl.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Stocks along PADD I East Coast were up 100,000 bbl to a 1-1/2 year high at 7.2 million bbl while PADD II Midwest supplies climbed 100,000 bbl to 6.0 million bbl.
Plant production increased 4,000 barrels per day (bpd) last week to 931,000 bpd, the highest since mid-August, while 11.2% higher than a year prior. Four-week average output was up 11.0%.
Blender inputs, a proxy for ethanol demand, fell 4,000 bpd to 846,000 bpd last week, the lowest since the week-ended May 2, while up 4,000 bpd year-over-year.
(BM/AG)
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