05.02.2024
UCO, heating oil spread widens
Yellow grease traded as low as 34 cents per lb delivered Carolinas on Thursday May 2, with additional volume heard at 36 cents per lb. Despite the decrease, offers...
U.S. oil futures spiked to a fourth consecutive daily gain, their longest winning streak since August. Heating oil futures have enthusiastically followed oil higher as HO has climbed over 14% in the past four days.
Blending economics, which have looked horrendous for months, especially through the lens of the smaller blender whose fixed cost are not spread across as much production, all of a sudden look manageable. At least for the…