Ethanol Strengthens Against Gasoline on Below-Average Production
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Ethanol strengthened against gasoline on speculation that demand for the biofuel is outstripping supply.
The fuels’ spread shrank by 1.11 cents to 28.44 cents a gallon as production of the fuel reached 832,000 barrels a day last week, the lowest level for this time of year in records going back to June 2010, a report from the Energy Information Administration showed. Inventories have fallen 11 out of the 15 weeks so far this year.