Ethanol Production in U.S. Slumped Last Week, EIA Reports
By Mario Parker -
May 30, 2013
Ethanol production in the U.S. fell 1.4 percent to 863,000 barrels a day last week and stockpiles dropped to the lowest level in 31 months, the Energy Information Administration said. Output slipped for the first time in three weeks while stockpiles tumbled 0.8 percent to 16 million barrels, the lowest level since Oct. 15, 2010, the Energy Department’s analytical arm said in a report today. Inventories have slumped five consecutive weeks and are down 25 percent from a year earlier. Imports averaged 27,000 barrels a day, the first time the U.S. has made foreign purchases of the fuel since April 19, EIA data show. Ethanol-blended gasoline made up 96 percent of the total U.S. gasoline pool, the highest since May 3, the report showed. Denatured ethanol for June delivery slipped 0.5 cent to $2.69 a gallon at 11:46 a.m. New York time on the Chicago Board of Trade. Prices have gained 33 percent in the past year. To contact the reporter on this story: Mario Parker in Chicago at mparker22@bloomberg.net To contact the editor responsible for this story: Mario Parker at mparker22@bloomberg.net ©2013 BLOOMBERG L.P. ALL RIGHTS RESERVED. |