U.S. ethanol production advanced 2.4 percent last week to 826,000 barrels a day, the Energy Department said.
Output jumped the most since Nov. 30 and climbed to the highest level in two weeks while stockpiles declined 1.8 percent to 19.9 million barrels, a five-week low, according to a department report today. It was the third straight inventory drop, the longest streak since the period ended July 6.
Imports sank 40 percent to 52,000 barrels a day from 87,000 the previous week, the department said. Ethanol-blended gasoline made up about 84 percent of the total U.S. gasoline pool, the smallest share since June 3, 2011.
Denatured ethanol for February delivery rose 0.5 cent, or 0.2 percent, to $2.225 a gallon at 10 a.m. local time on the Chicago Board of Trade.