NEW YORK (DTN) -- The Energy Information Administration's weekly supply report released midmorning Wednesday showed steep decreases in U.S. ethanol inventories and plant production while blending demand rose during the third week of July.
The EIA's Weekly Petroleum Status Report showed fuel ethanol stocks tumbled during the week-ended July 21 by 6.0 million barrels (bbl), or 4.7%, to 21.5 million bbl. Supply was 1.1 million bbl, or 5.4%, higher than for the corresponding week a year ago.
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Most of the national supply draw occurred in the Gulf Coast, which saw a stock decline of about 400,000 bbl or 9.5% during the week reviewed.
Domestic plant production fell 14,000 barrels per day (bpd), or 1.4%, to 1.012 million bpd during the week reviewed, while up 14,000 bpd, or 1.4%, year on year. For the four weeks ended last week, fuel ethanol production averaged 1.015 million bpd, up 11,000 bpd, or 1.1%.
Net refiner and blender inputs, a gauge for ethanol demand, increased 24,000 bpd, or 2.6%, to 945,000 bpd. Blending demand is up 9,000 bpd, or 1.0%, year on year. For the four-week period ended July 21, blending demand was down 2,000 bpd, or 0.2%.
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