Ethanol stocks reach highest seen since start of the COVID-19 pandemic

In Washington, Dow Jones reports Energy Information Administration data shows ethanol production rose to 1.042 million barrels per day, which pushed stocks to their highest level since April 2020 at 26.15 million barrels, compared to 25.95 million barrels the week prior. Analysts expected production to be much lower, between 1.02 million barrels to 1.035 million barrels, while estimates for stocks were in line with production estimates, reaching between 26 million barrels to 26.2 million barrels.