Argo Ethanol Gain to 11wks High as Stocks Drop 5% on Week
WASHINGTON, D.C. (DTN) -- Spot ethanol values across U.S. trade hubs posted
various results in afternoon trade Thursday after weekly inventory data
reported nationwide stockpiles eroded for the fifth straight week through May
22 and production increased to a fresh eight-week high at 724,000 bpd,
outpacing refiner and blender net inputs on the week.
Energy Information Administration reported ethanol inventories in the United
States fell 400,000 bbl to a 23.2 million bbl 19-week low, with declines
realized in East Coast PADD 1 stocks, down 100,000 bbl, Gulf Coast PADD 3 and
West Coast PADD 5, both down by 200,000 bbl on week.
The stock decline was realized with a 32,000 bpd increase in refiner and
blender net inputs during the week to a 712,000 bpd nine-week high, although
down from a 948,000 blend rate year prior.
Plant operators increased run rates by 61,000 bpd to a 724,000 bpd
eight-week high, the fourth consecutive week with higher output after falling
to a more than 10-year low at 537,000 bpd.
Liubov Georges, 1.646.359.4088, firstname.lastname@example.org, www.dtn.com.
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