Spot ethanol prices were sharply lower along the West Coast in early afternoon trade Wednesday following the midmorning release of supply data from the Energy Information Administration that showed PADD V West Coast supply gained 96,000 bbl to 2.544 million bbl during the week ended July 20, while 4.2% above the year-ago stock level. The increase coincided with a 10,000 bpd ramp up in domestic production to a 2018 high at 1.074 million bpd, up 62,000 bpd or 6.1% against the comparable year-ago period.
In California, spot prices dropped 8.5cts from a 15-month high, talked in a wide $1.70 to $1.80 gallon spread even as delays in unit trains continued in the region, traders said. In the Pacific Northwest, spot values dropped by a dime to $1.6050 gallon.
Brian Whary can be reached at firstname.lastname@example.org.
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