Ethanol Narrows Discount to Gasoline to Tightest in Three Months
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Ethanol strengthened against gasoline for a fourth day, narrowing the discount to the least in almost three months, on speculation that demand for the biofuel is outstripping supply.
The spread, or price difference, narrowed 0.32 cent to 37.98 cents a gallon based on settlement prices, the tightest since Jan. 16. Stockpiles of the fuel last week were 18 percent lower than a year ago and at the all-time seasonal lows in records going back to June 2010, data from the Energy Information Administration show.