CRANBURY, N.J. (DTN) -- Weekly statistics from the Energy Information Administration released late morning were mixed for ethanol, with U.S. inventory unchanged although blending demand reached an all-time high.
EIA reported the national supply of ethanol was unchanged during the week ended May 27 at 20.8 million barrels (bbl), which is 700,000 bbl more than the comparable year ago period.
Regionally, ethanol supply for the East Coast PADD 1 increased by 400,000 bbl to 7.3 million bbl, and supply along the West Coast PADD 5 edged up 100,000 bbl to 2.8 million bbl. Those builds were countered by a 100,000 bbl draw in Midwest PADD 2 supply to 6.5 million bbl and a 400,000 bbl decline in PADD 3 Gulf Coast inventory to 3.9 million bbl. Ethanol supply in the Rocky Mountains PADD 4 was flat at 300,000 bbl for the week reviewed.
Refiner and blender net inputs of ethanol increased 6,000 barrels per day (bpd) to a 922,000 bpd record high during the week leading up the Memorial Day holiday weekend -- the kickoff to peak driving demand in the United States. The weekly input rate was up a sharp 48,000 bpd, or 5.5%, from year prior.
Blending demand during the four weeks ended May 27 was 912,000 bpd, 18,000 bpd or 2.0% more than during the comparable period in 2015.
U.S. ethanol production plants revved up output during the week profiled, climbing 14,000 bpd to a 960,000 bpd three-week high. During the four weeks ended May 20, domestic ethanol output averaged 954,000 bpd, on par with year prior's 953,000 bpd production rate.
Implied gasoline demand surged 200,000 bpd during the week ended May 27 to 9.716 million bpd -- the second highest weekly demand rate of 2016. Cumulatively from Jan. 1 through May 27, gasoline demand averaged 9.298 million bpd, 382,000 bpd, or 4.3%, above the same period in 2015.
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