U.S. Ethanol Production Drops 0.9% to 805,000 Barrels a DayMario Parker
Ethanol production in the U.S. fell 0.9 percent to 805,000 barrels a day last week, an Energy Information Administration report showed.
Output in the period ended March 1 snapped a four-week streak of gains and slid to the lowest level since Feb. 15, according to today’s report from the Energy Department’s statistical arm.
Inventories fell for a fifth week to 19.4 million barrels, the lowest level since Nov. 30. It was the longest set of declines since October 2010.
The U.S. didn’t import any of the biofuel, for the first time since Feb. 1, down from 32,000 barrels a day the previous week, the report showed.
Ethanol-blended gasoline made up 94 percent of the total U.S. gasoline pool, up from 88 percent in the week ended Feb. 22 and the highest level since Oct. 5, EIA said.
Denatured ethanol for April delivery rose 0.4 cent to $2.436 a gallon at 10:16 a.m. local time on the Chicago Board of Trade.