05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
Daily Charts
Biodiesel B20 (2020) RINs rallied 4.5 percent last week, settling at 58.50 cents. The B19 RIN climbed nine percent. Prices came off a bit today with the B20’s closing at 57.75 cents and the B19’s at 56.5 cents. Ethanol RINs gained about four percent in value last week with the E20 closing at 46.75 cents. Ethanol RINs were also slightly lower today. The B20 RIN is trading at a 11.5-cent premium to the E20. RIN prices remain well supported but are awaiting further clarity from EPA on renewable volume obligations and small refinery exemptions.
Crude oil prices slipped 10 cents per barrel last week, settling at $40.55 per barrel. Prices are still well above the $31.50 they were trading at a week before the pandemic was announced. While crude prices edged lower, heating oil prices locked in a…