Ethanol Production in U.S. Drops to Lowest Level in Five Weeks

U.S. ethanol production fell to a five-week low last week, an Energy Department report showed.

Output dropped 1 percent in the seven days ended Nov. 23 to 803,000 barrels a day, the lowest level since Oct. 19. It was the third consecutive decline. Stockpiles slid 3.1 percent to 18.3 million barrels.

Imports surged to 27,000 barrels a day from 6,000 the previous week, the department said.

Ethanol-blended gasoline made up 93 percent of the total U.S. gasoline pool, a seven-week high.

Denatured ethanol for December delivery rose 0.7 cent to $2.445 a gallon at 11:26 a.m. New York time on the Chicago Board of Trade. The futures are up 11 percent this year.

source: businessweek