The Nations Renewable Fuel Standard requires billions of gallons of renewable fuel to blended with gasoline and diesel within the transportation sector each year. Obligated parties can either choose to blend renewable fuels in with the fuel they produce, or purchase RINs on the open Market.
A renewable identification number (RIN) is used for compliance and is the “currency” of the RFS program. Three large, obligated parties have taken the position of “betting” on the RIN market over the past two years, banking on the prospect of lower RIN Prices in the future. Over this time, compliance obligations to ballooned to $2.3 million at the end of the third quarter in 2021.
Fourth quarter financial reporting shows PBF Energy and Delta Air Lines worked to reduce their debt, while CVR Energy added to theirs. All three companies were hoping RIN…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...