Ethanol production soars thanks to increased exports and margins

In Washington, Platts reports that Energy Information Agency data shows ethanol production rose to the highest level seen since December last week at 1.074 million barrels per day, likely as a result of the highest margins seen since early this year. Exports continue to draw down stocks in the Gulf Coast region, helping to reduce stocks overall on the week despite the ramp up in production. Nationwide stocks were 21.653 million barrels, down 115,000 barrels, while Gulf Coast stocks were 4.281 million barrels, down 370,000 barrels on the week.