The oil sector had a strong week, which isn’t likely a surprise as more and more of the country is beginning to come out of the shelter within orders that have been in place. WTI crude gained 25 percent, which sounds nice, however, current prices remain 60 percent below levels seen at this time a year ago. Heating oil loosely followed crude, gaining 13 percent of for the week but, like crude, values trail last year’s levels by 56 percent.
The Jobs report released earlier today showed the US lost 20.5 million jobs in April. Borrowing a Tweet from GasBuddy’s Patrick De Haan, that’s the total of everyone in a city the size of Seattle losing their job – every day…
Soybean oil edged higher for the week, gaining 1.5 percent to 26.54 cents per pound for July delivery. The bean oil/heating spread benefitted from the strong run in crude, as the spread declined 6.6 percent to…
01.22.2025
Be8, Cemvita to study glycerin-to-SAF feasibility in Brazil
Brazilian biofuels producer Be8 and US-based biotech company Cemvita signed a memorandum of understanding to study the technical and economic feasibility of converting glycerin into sustainable aviation fuel (SAF),...
01.22.2025
CWG prices jump 17% from prior week on strong renewable demand
The choice white grease (CWG) market continued to trade higher on Wednesday January 22 with deals done as high as 42 cents per lb FOB Missouri River, but the...
01.22.2025
US weekly wheat, soybean export inspections decline; corn up 7%
Export inspections of US grains showed a decline for soybean and wheat, while corn increased in the week to January 16, according to data from the USDA released on...