Crude prices shot higher as OPEC forecasted large expected cuts to oil investments that will likely ease production and reduce global crude supplies. Heating oil futures also reacted with an extremely solid move higher to the news. HO futures were up nearly six cents per gallon. The strong HO move was only offset on its effect to the BO-HO spread by a slightly softer rise in soybean oil futures. The BO-HO dropped nearly 4 cents to its lowest level since October 9th.
With the EPA expected to finalize the RVO figures by November 30th, obligated parties stepped in and provided a boost to biodiesel RINs. The B15’s jumped nearly 2.5 cents, trading as high as 57.5 cents on strong volume throughout the day. Ethanol RINs also worked their way higher, but did not advance as quickly as the bio RINs. This allowed the 2015 D4/D6 spread to expand to 16 cents.
11.20.2024
Biodiesel supply tightens heading into the new year
Producers, blenders and fuel suppliers are reporting a slowdown in trading this week. A Fastmarkets survey of participants showed that overall sentiment has the market slowing ahead of...
11.20.2024
California UCO prices climb; DCO production eases slightly from record high
US animal fats and oils prices showed mixed trends on Wednesday November 20, with most market activity concentrated in the Gulf and West Coasts.
11.20.2024
US animal proteins steady; avian flu in birds increases in fourth quarter
US animal protein prices were steady on Wednesday November 20. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving weekend starting on Thursday...