01 February 2012 23:38 [Source: ICIS news]
HOUSTON (ICIS)--US ethanol inventories were up for the fifth consecutive week, as production rates continued to come down, according to Energy Information Administration (EIA) data revealed on Wednesday.
Ethanol inventories for the week that ended on 27 January were at 20.9m bbl, up by 1.1m bbl or 6% from 19.8m bbl the previous week.
Meanwhile, ethanol production was at 939,000 bbl, up by 5,000 bbl or 0.5% from 934,000 bbl the previous week.
The growing inventories have also contributed partly to the lack of trading activity within the US fuel ethanol market, alongside weaker demand from the gasoline sector
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