05.08.2024
May STEO forecast, 2024 RVOs
The Energy Information Administration’s (EIA) Short Term Energy Outlook (STEO) showed a decrease in 2024 fuel consumption estimates. This lowered renewable fuel blending estimates for the year, leading to...
Used cooking oil (UCO) trading was active this week, with middle eastern cargoes delivered in flexi-tanks to Amsterdam, Rotterdam, Antwerp, Ghent (ARAG) on a CIF basis trading at $950 per tonne, while some optional origin cargoes traded in the range of $935-945 per tonne on the same basis. European UCO was reported sold at €1,010 per tonne EXW ARAG for spot delivery.
FOB China values were broadly stable at $850-855 per tonne, with CIF ARAG offers heard at above $960 per tonne depending on freight rates, which ranged between $100-140/mt.
In the vegetable oils sector, sources reported crude palm oil (CPO) trading to ARAG market at $1,045 per tonne for April, just slightly above last week’s levels and at $1,035 per tonne for June, up $40 per tonne week-on-week. Further offers for may-June were reported at $1,060-1,065 per tonne versus buying interest at $1,020-1,030 per tonne CIF Rotterdam.
Rapeseed oil (RSO) prices…