Post-Holiday Pause or Calm Before the Storm?
Markets returned from the U.S. Memorial Day holiday into a relatively quiet landscape, with European activity also subdued due to a midweek religious holiday. Yet under the surface, pressure is building. EPA Administrator Lee Zeldin missed his own deadline for announcing the 2026 Renewable Volume Obligations (RVOs), and the D4 RIN market continues to hold at $1.09, reflecting a lack of regulatory direction.
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