Ethanol Production in U.S. Falls 1.9%, Energy Department Says
Ethanol production in the U.S. fell 1.9 percent to 879,000 barrels a day last week, according to an Energy Department report.
Output slid to the lowest level since the week ended July 29. Stockpiles climbed 0.4 percent to 17.2 million barrels, rebounding from the lowest amount since Dec. 31. That’s enough supply for 19.4 days.
Production of conventional gasoline blended with ethanol slumped 1.3 percent to 5.04 million barrels a day. Refiners receive a 45-cent tax credit for every gallon of ethanol blended into the motor fuel.
Denatured ethanol for October delivery was unchanged at $2.735 a gallon at 10:36 a.m. New York time on the Chicago Board of Trade. Futures have gained 15 percent this year.
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