U.S. spot ethanol prices rose in thin early afternoon trade, supported largely by federal data showing U.S. ethanol stockpiles fell to a fresh 2-1/2-year low. Energy Information Administration released data showing U.S. ethanol stocks were drawn down 1.5% last week to 16.2 million bbl, the lowest level since early November 2010, despite an increase in weekly production. Implied demand rose 14,000 or 1.7% to 860,000 bpd last week, an increase of 2.3% from 841,000 bpd reported a year earlier.
George Orwel can be reached at firstname.lastname@example.org.
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