In the tradable credits market, D6 Renewable Identification Numbers edged up 1.5cts early Friday afternoon, following trades at 53.5cts for 2013 RINs, while 2014 RINs traded at 51.5cts and 52.5cts. Offers were heard as high as 55.0cts for 2013 RINs and 58.0cts for 2014 RINs. A broker said RIN values rose in early trade because of speculation the U.S. Environmental Protection Agency may not adjust the overall blending volume mandated for this year as proposed.
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Although EPA won't make a decision until summer, the potential effect of a decision not to cut company Renewable Volume Obligations is higher demand. Combine with lower production and you have a tight market, said the broker.
George Orwel can be reached at firstname.lastname@example.org.
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