Ethanol Output in U.S. Rose 1.9% to 812,000 Barrels a DayMario Parker
Ethanol production in the U.S. rose 1.9 percent last week to 812,000 barrels a day, the Energy Information Administration said.
Output jumped a fourth consecutive week, the longest streak of gains since Aug. 17, according to a report from the Energy Department’s statistical arm.
Stockpiles sank 0.6 percent to 19.4 million barrels, the lowest level since Nov. 30. Inventories have dropped for four weeks, the most since October 2010, EIA data showed.
Imports jumped 52 percent to 32,000 barrels a day, the highest level in five weeks.
Ethanol-blended gasoline made up 88 percent of the total U.S. gasoline pool for the week ended Feb. 22, down from about 90 percent seven days earlier.
Denatured ethanol for March delivery fell 0.7 cent to $2.389 a gallon at 11:01 a.m. New York time on the Chicago Board of Trade. Prices have gained 6.7 percent in the past year.