US biofuels markets calm after no RFS mandates storm

Dec 07 05:12 2017 Print This Article

Well, that was anticlimactic.

The US Environmental Protection Agency’s release of the 2018 biofuel blending mandates and 2019 biodiesel mandate came and went November 30 without much fanfare in the US biofuels markets.

Biodiesel premiums for prompt product didn’t change. The S&P Global Platts Chicago Argo physical benchmark dropped 35 points on November 30, but has since rebounded by more than a half-cent.

The biggest difference came in Renewable Identification Numbers prices. D6 ethanol RINs for 2017 compliance slipped 1.75 cents on the day of the announcement, while D4 biodiesel RINs gained by the same measure. Since the EPA mandates were released on November 30, D6 RINs have shed 5 cents and D4 RINs have lost 8 cents.

Compare that to last year, when D6 RINs for 2016 jumped 10 cents in the two trading sessions following the announcement. D4 biodiesel RINs for the same year jumped 9.5 cents in the same timeframe.

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The Barrel

S&P Global Platts provides market insights so people can make more informed trading and business decisions.. They're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to their expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping. S&P Global Platts provides critical information for the commodities & energy markets to make physical commodity markets more transparent and efficient. S&P Global Platts blog, The Barrel, provides the essential perspective on global commodities.

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