EIA: Ethanol Stocks at 7-1/2 Month Low

NEW YORK (DTN) -- Ethanol stocks in the United States fell to a 7-1/2 month low during the week-ended Aug. 7 while demand eased from a record high the preceding week to a three-week low last week, according to a report released by the U.S. Energy Information Administration on Wednesday, Aug. 12.

The EIA report also showed domestic production rose by 4,000 barrels per day (bpd) to 965,000 bpd while up 3.65% year on year.

Total ethanol stocks fell 710,000 barrels (bbl), or 3.7%, to 18.529 million bbl during the week-ended Aug. 7, according to the EIA, narrowing a year-over-year stock surplus to 4.3%. Regionally, stocks fell by the most along PADD 1 East Coast, where stocks were drawn down by nearly 600,000 bbl.

Blender inputs, a gauge for ethanol demand, fell 12,000 bpd, or 1.3%, to 898,000 bpd last week. On a year-over-year basis, implied demand for ethanol was up 0.9%.

EIA said implied demand for gasoline dipped 1,000 bpd to 9.686 million bpd, although is 8.6% above the same week a year ago.