top of page


Gasoil Cracks Explode as EPA Uncertainty Deepens
Diesel markets surged again today in response to renewed geopolitical tension, as the U.S. weighed secondary sanctions against Chinese...
Henri Bardon
Jul 213 min read


Atlantic SAF Policy Gap Widens While Ethanol Expands and Biodiesel Margins Suffer
Momentum continues to build on both sides of the Atlantic for sustainable aviation fuel (SAF), but the divergence in approach is...
Henri Bardon
Jul 182 min read


Energy-Led Rally Leaves Biodiesel Margins Behind
Gasoil prices jumped today, with ICE front-month contracts surging 3.84% to $717.50/mt—almost a full standard deviation move. This...
Henri Bardon
Jul 172 min read


U.S. Oil Stocks Plunge, Australia Eyes China, Indonesia Tariffs Shift – Biodiesel Market Reshaped
May’s NOPA data revealed a deepening disconnect between soybean crush and oil inventories. U.S. processors crushed a record 192.829...
Henri Bardon
Jul 162 min read


Europe Trades Paper, U.S. Chases CI, and Asia Lifts Palm — A Global Biofuels Rebalance
BOPO (Bean Oil – Palm Oil spread) has reversed sharply, now trading at +218/mt, up from -200/mt just six months ago—a $400/mt swing that...
Henri Bardon
Jul 152 min read


Heat Crack Strength Holds Gasoil Market Firm as Logistics Fray in Brazil and Europe
The European gasoil market continues to exhibit a strong backwardation structure, with the August/December spread holding at +$50/mt ....
Henri Bardon
Jul 142 min read


Waste-Based Biofuels Ascend Globally, While Indonesia's $17B Graft Case Casts Long Shadow
Europe’s biodiesel market remains shaped by deepening gasoil backwardation, with the Aug/Dec ICE gasoil spread climbing to $53/mt. In the...
Henri Bardon
Jul 112 min read


From Immingham to Thailand—and Now Brazil: A Global Realignment in Biofuels, Grains & Oilseeds
The European biodiesel sector is in retreat. Greenergy’s decision to close its Immingham biodiesel plant, with 60 jobs at risk,...
Henri Bardon
Jul 102 min read


Gasoil Expiry Looms as Crush Margins Peak and Tariffs Roil Global Vegoil Markets
With July off the board, the entire biodiesel market has already transitioned to August trading. BOGO and BOHO values have softened, with...
Henri Bardon
Jul 92 min read


Global Diesel Supply Crunch Lifts Biodiesel Premiums Ahead of Tuesday EPA Public Hearing
A global diesel supply crunch is dominating energy markets this week, pushing prompt-month Gasoil spreads into record backwardation. The...
Henri Bardon
Jul 72 min read


BOGO Carry (Contango) Defies Feedstock Fundamentals
The passage of the Big Beautiful Bill (BBB) through the House marks a pivotal moment in U.S. biofuels policy. Expected to be signed into...
Henri Bardon
Jul 32 min read


Senate Passes the BBB — But RINs Signal Caution Amid Margin Squeeze
The Senate’s passage of the “Big Beautiful Bill” (BBB) has triggered a firm recovery in feedstock markets, with soyoil futures jumping...
Henri Bardon
Jul 22 min read


Summer Grades, Sinking Soy: What US April Feedstock Use Tells Us
The latest EIA data for April 2025 offers the first glimpse into U.S. summer-grade biodiesel and renewable diesel production. Total...
Henri Bardon
Jul 12 min read


BOGO Breakout Defies Gasoil Fundamentals
Despite signs of a global supply crunch in middle distillates, ICE gasoil futures continue to underperform, pushing the BOGO spread to...
Henri Bardon
Jun 272 min read


Heat Crack Ignites as Dollar Sinks
Markets were jolted today by two contrasting macro signals: the heating oil crack surged to 34.13—its highest level in over a year—while...
Henri Bardon
Jun 262 min read


Calm Before the Storm: Biofuels Market Holds Breath Ahead of Weekend Positioning
Markets appeared to settle into a temporary lull on Wednesday, with biodiesel traders navigating steady price action in both Europe and...
Henri Bardon
Jun 252 min read


Volatility Unleashed: Biodiesel Holds Steady Amid Gasoil Collapse
A brutal correction in energy markets sent ICE gasoil tumbling nearly 10% to $670/mt, underscoring the savage volatility gripping...
Henri Bardon
Jun 242 min read


Markets Test Limits as Geopolitical Volatility Reigns
The biodiesel complex faced an intense session to open the week as gasoil collapsed from an early high of $817.75/mt to $699/mt by day’s...
Henri Bardon
Jun 233 min read


Calm in ARAG as Gasoil Rips Through Resistance
The ARAG window was notably subdued today, even as underlying energy markets surged ahead. ICE gasoil broke above its 200-day weighted...
Henri Bardon
Jun 192 min read


Distillate Frenzy: Gasoil Surges and Biodiesel Margins Ignite
ICE gasoil has exploded higher this week, with the July/September spread punching through $25.50/mt and the heat crack surging to...
Henri Bardon
Jun 182 min read
bottom of page