Ethanol production in the U.S. advanced for the first time in three weeks, while inventories of the fuel additive retreated.
Output rose 1.5 percent to 834,000 barrels a day in the week ended Dec. 21, the highest level since Nov. 30, an Energy Department report showed today. Stockpiles slid 2.5 percent to 20.3 million barrels, falling from the highest level since June 15 the previous week.
Imports declined to 26,000 barrels a day from 37,000 in the week earlier period, the department said. Ethanol-blended gasoline made up about 89 percent of the total U.S. gasoline pool, down from 93 percent in the week ended Dec. 14.
Denatured ethanol for January delivery was little changed at $2.20 a gallon at 11:13 a.m. on the Chicago Board of Trade.