US ethanol stocks drop by 4.8%, production rises slightly

07 July 2011 21:18  [Source: ICIS news]

HOUSTON (ICIS)--US fuel ethanol inventories fell by 4.8% in the last week of June, while daily production rose slightly, the US Energy Information Administration (EIA) said on Thursday.

Ethanol stocks stood at 18.55m bbl in the week ended 1 July, down from 19.48m bbl in the previous week.

US production of the biofuel totalled 904,000 bbl/day last week, up 1.2% from 893,000 bbl/day a week earlier, the EIA said.

US ethanol output in June averaged 898,600 bbl/day, up by 0.6% from 893,250 bbl/day in May.

Ethanol for August delivery settled on Thursday at $2.63/gal on the Chicago Board of Trade, an increase of 2% from the previous day.

US weekly ethanol inventories – m bbl (EIA)
1 July	24 June	17 June	10 June	03 June
18.55	19.48	19.51	19.75	19.64

($1 = €0.70)

For more on ethanol, visit ICIS chemical intelligence

By: William Lemos
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