US Ethanol Inventories Build
EIA: US Ethanol Inventories Extend Gains on Strong Output
OAKHURST, N.J. (DTN) -- Domestic ethanol inventories posted a fourth consecutive weekly build through June 18, with stronger production offsetting continued strength in demand, Energy Information Administration data released Wednesday show.
Domestic ethanol plant production rose 23,000 barrels per day (bpd) to 1.048 million bpd while four-week average output was 1.044 million bpd, up 10,000 bpd from the four-week average the prior week.
EIA reported PADD 2 ethanol plant production gained 23,000 bpd to 1.002 million bpd as of June 18 with four-week average output at 997,000 bpd.
Total ethanol inventories increased 518,000 barrels (bbl) to a 13-week high 21.120 million bbl last week as East Coast PADD 1 and Midwest PADD 2 stocks posted multi-week builds.
PADD 1 ethanol inventories rose a third week, up 194,000 bbl to 6.629 million bbl to a seven-week high while PADD 2 stocks held higher for a fourth week, up 238,000 bbl to an 18-week high 7.610 million bbl. West Coast PADD 5 supply rose for the first time in three weeks, up 306,000 bbl to 2.553 million bbl, an 18-week high.
At the Gulf Coast PADD 3, stocks declined from a six-week high, down 237,000 bbl to 3.958 million bbl.
Blending activity, a measure of demand, held higher for a second week, up 12,000 bpd to a five-week 922,000 bpd last week. Blending activity during the four weeks ended June 18 averaged 913,000 bpd versus 776,000 bpd during the comparable year-ago period.
Midwest PADD 2 blending demand added 7,000 bpd on the week, while at the Gulf Coast, demand gained 4,000 bpd. For the four weeks ended June 18, EIA reports PADD 2 blending activity was at 251,000 bpd while PADD 3 blending demand averaged 150,000 bpd.
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