Ethanol Output in U.S. Advances 0.8%, Energy Department Says
Ethanol output in the U.S. advanced 0.8 percent to 909,000 barrels a day last week, according to the Energy Department. Output was the highest since March 18.
Stockpiles slipped 2.7 percent to 20.2 million barrels from a record 20.8 million, the department said in Washington, enough to supply the market for 22.9 days.
Production of conventional gasoline blended with ethanol increased 1.7 percent to a record 5.1 million barrels a day. Refiners receive a 45-cent tax credit for every gallon of ethanol blended into the motor fuel.
Denatured ethanol for June delivery rose 0.3 cent to $2.645 a gallon at 11:23 a.m. New York time on the Chicago Board of Trade. Futures have climbed 11 percent this year.
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