U.S. ethanol production and stocks hit multi-month highs last week.
The U.S. Energy Information Administration says production averaged 977,000 barrels a day, up 16,000 on the week and the highest average since March, when widespread COVID-19 lockdowns began limiting blending demand, but that is still 37,000 barrels below year ago levels.
Stocks were gained 484,000 barrels from the previous week to 20.2 million, the biggest reserve since August, but that is 1.715 million barrels below last year following the production slowdowns.
