04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
The combination of a 3-week period where crude stocks, which increased by slightly more than 24 million barrels, combined with this week’s build that was 4-times estimates helped push heating oil prices lower. Despite this fundamental bearish dynamic, prices seemed to have held support levels.
On Wednesday morning the Department of Energy released its estimate for crude and product inventories. According…