New York spot ethanol hits record $3.33/gal: traders

Houston (Platts)--18May2006

Ethanol prices in New York Harbor hit a new all time high on Thursday
of $3.33/gal heard done, market source said.

This is strongest prices have been since Platts began assessing ethanol.
The previous peak was $3.15/gal, first set on Tuesday.

Tight supplies nationally due to demand and logistics issues were
credited as being behind the run up.

"People got caught short," one market source said. "Barrels are just
tough to come by."

The market started getting done at $3.25/gal early Thursday morning, a 10
cent/gal gain from Wednesday's prices. By 11:30 CST, the market was heard
getting done at $3.33/gal.

Also up on Thursday was the Houston market, at $3.25/gal from $3.15/gal on
Wednesday.

--- David Ruisard, david_ruisard@platts.com

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