Bean oil is now down 10% in last 3 months and premiums FOB paranagua are now offered below -1000 with bids at least 250 points away. May BOGO fell to +436 adding to the already incredibly volatile FAME 0 market in Northwest Europe whose premium are down $100/mt in 3 trading sessions. Strikes in France are being extended while oil producer increase in crude prices successfully reduced crack margins which has been particularly spectacular for diesel. The renewable diesel chart being circulated shows the incredible ramp up of Renewable Diesel projects but I would caution that many of these projects economics are way over budget and many include refinery renovation meaning that they can be reverted back to fossil fuels. Would therefore add following legend: red is possible, green is unlikely, purple and yellow is all going perfectly well.
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