OAKHURST, N.J. (DTN) -- Domestic ethanol inventories fell for a fourth straight week, reaching a more-than-three-month low, Energy Information Administration data shows.
Data shows ethanol stockpiles fell 579,000 barrels (bbl) to 21.846 million bbl during the week-ended April 6, the lowest level since the week-ended Nov. 10, 2017 when supply held was 21.497 million bbl.
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At the current level, domestic ethanol inventory is roughly 5% lower than the same week a year ago.
EIA reported East Coast PADD 1 supply declined to 6.8 million bbl from 7.1 million bbl the week prior, while Midwest PADD 2 inventories were essentially flat at 8.3 million bbl. At the Gulf Coast PADD 3, ethanol stockpiles fell to 3.7 million bbl from 3.96 million bbl.
Plant production fell 4,000 barrels per day (bpd) on the week to 1.034 million bpd during the week-ended April 6, 48,000 bpd, or 4.9%, higher than the same week in 2017. For the four-week period ended April 6, production averaged 1.040 million bpd, up from 1.026 million bpd during the same four-week period in 2017.
Net refiner and blender inputs, a measure for ethanol demand, gained 1,000 bpd during the week profiled to 904,000 bpd, down 4,000 bpd versus a year ago. For the four weeks ended April 6, blending demand averaged 906,000 bpd, down 7,000 bpd versus same period in 2017.
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