The value of Renewable Identification Numbers rallied for the second straight session Tuesday amid talk the Environmental Protection Agency won't make changes to this year's Renewable Volume Obligation under the Renewable Fuels Standard.
The RVO rule for 2017 is scheduled to take effect today after the expiration of an executive order by President Donald Trump delaying implementation.
The 2017 D6 RINs traded from 51.0 cents to 58 cents, up 7.0 cents on the session on top of an 11.0 cents gain on Monday. The 2016 biomass-based diesel D4 RINs traded at $1.01 and $1.02, up 0.5 cents after rising 4.75 cents on Monday.
In ethanol trade, prompt delivered ethanol at the Argo terminal in the Chicago market traded at $1.465 per gallon, down 1.5 cents on the day amid talk of an oversupplied market. March barged ethanol supply at the New York Harbor was offered at $1.60 per gallon, up 0.75 cents on the day.
George Orwel can be reached at firstname.lastname@example.org.
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