Pacific Ethanol (PEIX) Slips as Ethanol Price Benefit Over Gasoline Narrows
Tweet
Share
E-mailGet Alerts PEIX Hot Sheet
Join SI Premium – FREE
Pacific Ethanol, Inc. (Nasdaq: PEIX) shares are lower on the session amid a narrowing discount window for ethanol versus gasoline.
According to market data Friday, the spread narrower 1.27 cents to 77.49 cents, potentially leading to the first two-week drop since early January 2013. Denatured ethanol rose 1.6 cents to $2.345 per gallon on the CBOT today, rising 7.1 percent on the year.
The EIA reported that ethanol imports for the week ended February 8th were 11,000 barrels per day on average. That's down 84 percent from 67,000 barrels per day in the same period last year.
Production fell 18 percent to 789,000 per day last week.
Corn prices are slowly rising, up about 4.25 cents to $6.99 per bushel on the CBOT.
Shares of Pacific Ethanol are down about 1 percent.
According to market data Friday, the spread narrower 1.27 cents to 77.49 cents, potentially leading to the first two-week drop since early January 2013. Denatured ethanol rose 1.6 cents to $2.345 per gallon on the CBOT today, rising 7.1 percent on the year.
The EIA reported that ethanol imports for the week ended February 8th were 11,000 barrels per day on average. That's down 84 percent from 67,000 barrels per day in the same period last year.
Production fell 18 percent to 789,000 per day last week.
Corn prices are slowly rising, up about 4.25 cents to $6.99 per bushel on the CBOT.
Shares of Pacific Ethanol are down about 1 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crude Inventory Fell 3.8 Million Barrels Last Week, Says EIA
- Oman, Iran To Work On Agreement On Management Of Navigation
- Oil prices fall 1% to 4-month lows as progress in US-Iran talks cools supply concerns
Create E-mail Alert Related Categories
Commodities, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
