EIA: Ethanol Stocks, Demand Lower
NEW YORK (DTN) -- Ethanol demand and stocks fell while domestic output rebounded slightly last week, according to a report released Thursday, Sept. 10, by the U.S. Energy Information Administration.
The report showed ethanol stocks were drawn down 400,000 barrels (bbl), or 1.9%, to 18.6 million bbl during the week-ended Sept. 4, with domestic inventory 3.4% above the comparable year-ago period.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Stock draws were seen along the PADD 1 East Coast and PADD 2 Midwest regions, while PADD 3 Gulf Coast rose. PADD 5 West Coast and PADD 4 Rocky Mountain stocks were unchanged.
EIA showed domestic ethanol production rose 10,000 barrels per day (bpd), or 1.0%, to 958,000 bpd while up 3.4% year on year.
Blender inputs, a gauge for ethanol demand, fell last week by 25,000 bpd, or 2.7%, to 896,000 bpd while up 5.4% versus a year earlier.
EIA data shows implied demand for gasoline sinking 421,000 bpd to 9.017 million bpd, although 4.7% higher than the same week a year ago. Implied gasoline demand, which measures supply disappearance in the primary market, averaged the lowest demand rate last week since late May.
(BM/AG)
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