The week ended February 16 saw RD margins tumble as diesel turned downward, while RIN markets saw persistent selling despite a deteriorating margin environment. D4 prices have shed 33c, or 42% since the start of the year. Diesel weakness saw the BOHO spread reach as wide as $67/gallon, gaining off the lowest level in nearly four years the week prior. LCFS markets posted a modest week-over-week gain as hopes for more stringent adjustments to the LCFS program were offset by material delays to implementation.
IN THIS REPORT AEGIS EXAMINES: