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US East Coast ethanol stocks continue decline to lowest recorded level

US East Coast ethanol stocks for the reporting week that ended October 11 were on an eight-week decline, falling 33,000 barrels to 5.041 million barrels, Energy Information Administration data showed Monday. This was the lowest recorded level by the EIA since it started tracking weekly ethanol stocks in the reporting week ended June 4, 2010. Overall US ethanol stocks, however, reversed course after a four-week descent, growing 29,000 barrels to 15.419 million barrels — rebounding from the previous week’s record low — on stock builds in the Midwest, Gulf Coast and Rocky Mountain region.

Midwest ethanol stocks edged up 3,000 barrels to an eight-week high of 5.248 million barrels, the third straight week of gains. Gulf Coast ethanol stocks jumped 197,000 barrels to 2.555 million barrels, the first gain in four weeks. Ethanol stocks in the Rocky Mountain region climbed 4,000 barrels to 276,000 barrels.

West Coast ethanol stocks, on the other hand, plunged 143,000 barrels to 2.299 million barrels, the lowest level in more than seven months as they had not been this low since the reporting week ended March 1, when they were at 2.162 million barrels. Weekly ethanol production nudged up 1,000 b/d to 869,000 b/d, while there were still no ethanol imports recorded in the latest reported week.

The weekly refiner and blender ethanol net input dropped 11,000 b/d to 857,000 b/d. As the weekly refiner and blender net ethanol input decreased while weekly overall stocks increased, the weekly ethanol days of supply — calculated by dividing weekly ethanol stock levels by the weekly refiner and blender ethanol net input — increased 0.3 day to 18 days of supply.

The weekly overall amount of gasoline produced moved up 86,000 b/d to a seven-week high of 9.335 million b/d, but the weekly amount of gasoline blended with ethanol moved down 65,000 b/d to 8.59 million b/d.

As the weekly overall amount of gasoline produced increased while the weekly amount of gasoline blended with ethanol decreased, the weekly ethanol blending percentage shed 1.6 percentage points to a four-week low of 92%.

The amount of gasoline blended with ethanol is calculated by adding the volume of reformulated gasoline blended with ethanol and conventional gasoline blended with ethanol. The ethanol blending percentage is calculated by dividing the weekly amount of gasoline blended with ethanol by weekly total gasoline production.

 

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