Ethanol Production in U.S. Fell 1.6% Last Week, DOE Says
Ethanol production in the U.S. fell 1.6 percent to 811,000 barrels a day last week, the lowest level since Oct. 19.
Output dropped for two consecutive weeks for the first time since Sept. 28, while stockpiles climbed 6 percent to 18.9 million barrels in the seven days ended Nov. 16, the biggest weekly gain in 22 months, the Energy Department reported today.
Imports tumbled 90 percent to 6,000 barrels a day, the department said, the lowest since the week ended Sept. 28, when the U.S. made no foreign purchases of the biofuel.
Ethanol-blended gasoline made up 89 percent of the total U.S. gasoline pool, down from 90 percent in the week ended Nov. 9, and the lowest level in nine weeks.
Denatured ethanol for December delivery fell 0.1 cent to $2.386 a gallon at 9:53 a.m. local time on the Chicago Board of Trade. The futures have dropped 6.2 percent from a year ago.
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