11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
Plunge in Crude Oil Drives Vegetable Oil Prices Lower
Vegetable oil prices dropped sharply on Friday as plunging crude oil prices caught traders’ attention. Crude oil fell nearly four percent, which left the benchmark October contract below the psychologically critical $40-per-barrel level. The decline in crude oil prices during the week was the largest weekly drop since June. Concerns about a slower-than-expected economic recovery and the lack of progress in negotiations for another stimulus package have driven the move lower. Also, slowing domestic gasoline demand and rising distillate inventories in Asia have also contributed to the bearish tone in the crude oil market.
Soybean oil prices dropped nearly 1 1/4 percent (December contract +40 basis points per pound). Selling at the 33.5-cent level and the continued fund liquidation of long oil share positions…