Heating oil prices surged to a fresh 2016 high, as distillate inventories fell and demand for gasoline rose. Production in the U.S. continues to decline ahead of the driving season which should continue to buoy prices. Over the last four weeks, crude oil imports averaged over 7.7 million barrels per day, 1.2% above the same four-week period last year which has offset production declines.
Petroleum stocks…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...