The week ended February 23 saw RD margins post heavy losses for a second consecutive week as diesel fell nearly 12% week-over-week. D4 prices have lost 37c, or 47% of their value since the start of the year with room for further losses. The BOHO spread briefly narrowed to $0.56/gallon, the lowest level in over four years, before ending the week little changed at $0.61/gallon. The BOHO spread has tumbled $0.45/gallon, or 42% since the start of the year, shoring up biodiesel margins and weighing on RIN markets.
IN THIS REPORT AEGIS EXAMINES: