RIN values continue to fluctuate while the market attempts to balance conflicting signals regarding renewable volume obligations and speculation surrounding pending relief for refiners. Biodiesel and ethanol RINs consolidated slightly lower on Thursday after moving higher in consecutive sessions. The biodiesel 2021 RIN (B21) settled at $1.73 with the ethanol 2021 (E21) RIN and $1.65½.
The spread between the two RIN classes continues to hold near seven cents, indicating that the market may have concerns regarding ethanol’s ability cover its portion of the 2021 RVO, whatever that RVO might end up being. The spread had widened recently to 17 cents after the White House indicated it might provide some RIN relief for merchant refiners. However, the spread tightened again as politicians and lobbyists encouraged the president to stay the course on biofuel blending.
The…
11.29.2023
Preem to Convert Lysekil Refinery to Produce SAF, Renewable Diesel
Preem, Sweden’s largest fuel company with a refining capacity of over 4.7 billion gallons of crude annually, announced plans to convert its Lysekil refinery to produce sustainable aviation fuel...
11.29.2023
DCO Production Declines for 2nd Week in a Row
*Please Note - Ryan Standard will be out of the office for the remainder of the week. He will return on Monday, December 4, 2023. In his absence, please...
11.29.2023
Heavy Nearby Supply Pressures MBM Markets Lower
Trading was again fairly quiet today, but there continue to be reports of negative pressure on ruminant and porcine meat and bone meal (MBM) markets. Sources again stated that...