Fats, Oils, & Fuels Webinar 3/2/21: Customer Q&A
Video shorts from the Fats, Oils, & Fuels Webinar Report Our team of Senior Analysts break down questions from the live Webinar audience during the call on Tuesday, March...
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.