New York Harbor March barged delivered ethanol edged 0.5 cent higher to $1.5850 per gallon in response to data released midmorning Wednesday by the Energy Information Administration showing a third consecutive decline in U.S. fuel ethanol stocks with inventory along the East Coast lower for a fourth straight week.
EIA shows East Coast fuel ethanol inventory fell 221,000 bbl to a 7.567 million bbl seven-week low, with supplies down a total of 328,000 bbl over the past four weeks.
Overall domestic fuel ethanol supplies fell 171,000 bbl, to 22.595 million bbl, during the week profiled. This is the third straightly weekly draw.
In the Midwest, fuel ethanol stockpiles rose for a third consecutive week, up 81,000 bbl, to a record 8.499 million bbl last week. Still, prices at the Argo terminal for prompt delivery moved 1.5 cents higher, trading at $1.48 per gallon and $1.49 per gallon for in-tank transfer, sources said.
Dawn Gallagher can be reached at firstname.lastname@example.org
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