Ethanol production in the U.S. rose 0.2 percent to 827,000 barrels a day last week, the highest level in seven weeks.
Stockpiles sank 5.6 percent to 18.1 million barrels, the steepest decline since Aug. 20, 2010, and the lowest amount since Dec. 30, an Energy Department report today showed. Imports increased 3.4 percent to 60,000 barrels a day, the agency said.
Ethanol-blended gasoline made up about 92 percent of the total U.S. gasoline pool, up from 91 percent in the week ended Oct. 26.
Denatured ethanol for December delivery fell 0.3 cent, or 0.1 percent, to $2.342 a gallon at 10:20 a.m. local time on the Chicago Board of Trade. The futures have dropped 12 percent from a year ago.
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