Houston — US ethanol production averaged 1.047 million b/d in the week ended July 5, a 34,000 b/d decrease compared with the previous week, Energy Information Administration data showed Wednesday.
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Production was up 14,000 b/d, or 1.36%, year on year. Production was slightly below market expectations.
Total stocks rose for the second straight week, adding 165,000 barrels, or 0.72%, week on week to 23.009 million barrels, with two of the five defined regions showing builds. Inventories were 616,000 barrels higher year on year. The increase in stocks was within market expectations.
Stocks in the Gulf Coast region showed the biggest build, rising by 487,000 barrels to 4.576 million barrels. The Gulf Coast is the most common origin for ethanol exports from the US.
Midwest inventories showed the second-largest gains, adding 226,000 barrels, or 2.79%, week on week to 8.334 million barrels, the highest inventory level since April 19. The Midwest is host to the largest number of ethanol plants in the US.
East Coast inventories dropped 345,000 barrels, or 4.58%, week on week to 7.18 million barrels.
West Coast stocks fell by 173,000 barrels to 2.587 million barrels. The EIA reported 17,000 barrels of ethanol imports on the week.
The four-week rolling average of the refiner and blender net ethanol input was 2,000 b/d lower at 946,000 b/d, while the weekly average fell 4,000 b/d to 943,000 b/d.
The four-week rolling average of gasoline demand, represented by product supplied, dropped by 31,000 b/d to 9.660 million b/d, while the weekly average rose by 262,000 b/d to 9.754 million b/d.
The four-week rolling average of the ethanol blending rate, calculated by dividing the refiner and blender ethanol input by gasoline demand, rose 0.01 percentage points to 9.79% from 9.78%.
|US ethanol stocks, July 5 (barrels)|
-- Wesley Swift, firstname.lastname@example.org
-- Edited by Jennifer Pedrick, email@example.com