By John Perkins
U.S. ethanol production moved lower last week and stocks got tighter.
The U.S. Energy Information Administration says production averaged 908,000 barrels a day, down 23,000 on the week, the first week to week decline since April, because of lower ethanol prices and signs summer gas demand might have peaked as COVID-19 cases continue to rise in parts of the U.S. That is 131,000 barrels below a year ago.
The amount of gasoline supplied to the market was down for the second week in a row and while blending demand did improve, it remains well below a year ago.
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