Energy Leads the Selloff — BOPO Breaks as Distillates Soften and SAF Narratives Multiply
Energy weakness dominated today’s price action, setting the direction for biofuels and vegetable oils. Markets continued to price an easing geopolitical risk premium, with refined products under sustained pressure. The signal from fuels was clear and quantifiable: gasoline is surplus and distillates are losing tightness, and biofuels are adjusting mechanically.
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