Ethanol Stocks Fall to 7-Month Low
NEW YORK (DTN) -- Ethanol stocks in the United States fell to the lowest level this year while demand spiked to a record high during the week-ended July 31, according to a report released Wednesday, Aug. 5, by the U.S. Energy Information Administration.
The EIA reported total ethanol stocks fell 409,000 barrels (bbl), or 2.0%, to 19.239 million bbl last week, reducing a year-over-year stock surplus to 5.4%.
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Regionally, stocks fell in most parts of the country except in the PADD 5 West Coast were they increased while flat in the PADD 4 Rocky Mountain region.
The EIA report also showed domestic production fell by 4,000 barrels per day (bpd), or 0.4%, to 961,000 bpd while up 1.2% year on year.
Blender inputs, a gauge for ethanol demand, rose last week by 7,000 bpd, or 0.8%, to 910,000 bpd, the highest on record. EIA launched the weekly data series in June 2010. On a year-over-year basis, implied demand for ethanol was up 4.1%.
EIA also reported that implied demand for gasoline remained choppy, rising 348,000 bpd last week to 9.687 million bpd after dropping 410,000 bpd the prior week. Demand for the week profiled was 3.5% higher than the same week in 2014.
(BM/AG)
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