Ethanol supply surges to multi-month high

Ethanol supply surges to multi-month high

Ethanol stocks shot higher last week.

The U.S. Energy Information Administration says the domestic supply climbed 1.675 million barrels from the previous week to 25.077 million, the largest domestic supply in 42 weeks and 601,000 barrels more than a year ago. That build-up can be tied to relatively high gasoline prices impacting fuel demand.

The Renewable Fuels Association says the volume of gasoline supplied to the market was up on the week, while net inputs by ethanol refiners and blenders were down.

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