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Ethanol production falls as supply grows


U.S. ethanol production declined for the fourth consecutive week.

The U.S. Energy Information Administration says production averaged 1.005 million barrels a day, down 39,000 on the week and 36,000 on the year due to the July 4th holiday and demand concerns linked to the high price of gasoline.

The Renewable Fuels Association says the volume of gasoline supplied to the market fell more than 14% to a 26-week low and net inputs by ethanol refiners and blenders dropped 2% to an 11-week low.

Ethanol production falls as supply grows