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Ethanol US

US gasoline, ethanol demand climbs

US gasoline demand rose sharply WoW, according to DOE’s latest crude and products data. After falling 2% last week, gasoline production was reported at 10.1mn b/d, up 4.7% WoW, with an accompanying draw on stocks of 1.7mn bl. Net imports of gasoline jumped from 316,000bl/d to 449,000bl/d, an increase of 42% WoW.
Ethanol demand stuck closely to the upward trend in implied gasoline consumption. Ethanol production fell 1% WoW to 973,000bl, compounding the 0.3% fall in output seen last week. Ethanol stocks also drew down, falling 181,000b/d to 19.5mn bl.
Monthly US ethanol exports have been sinking since February, but were still up 20% YoY in June.
Crude oil production dropped slightly to 9,558t bbl this week, with stocks growing marginally to just over.

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