The week ended March 8 saw RD margins slump halting a brief recovery as diesel weakness and stronger feedstock prices weighed on returns. RINs and LCFS credits posted modest gains, abating further losses. The D4 RIN market posted a stunning 12% recovery the week prior, yet trade slowed as the market awaits pending regulatory developments. This left D4 RINs largely unresponsive to a deteriorating margin environment. The BOHO spread widened nearly $0.14/gallon, or 21% to $0.78/gallon, the widest level since January 24, 2024.
IN THIS REPORT AEGIS EXAMINES: