U.S. ethanol stocks surged to a near one year high last week.
The U.S. Energy Information Administration says the domestic supply of 22.911 million barrels was a 47-week high and up 1.552 million from the previous week as higher fuel costs and at least some reduction in travel cut demand. That is still 781,000 barrels below year ago levels, reflecting the stronger demand seen last fall and early this winter.
The Renewable Fuels Association says the volume of gasoline supplied to the market and net inputs for ethanol refiners and blenders were near one year lows.
