The value of Renewable Identification Numbers weakened Monday amid profit taking after rallying June 20 following news from the Environmental Protection Agency that 1.22 billion RINs were generated in May, up from 1.20 billion in April. The 2014 D6 RINs traded downwards at 60 cents, 56 cents and 54.5 cents, 5.5 cents lower from end-day Friday.
On Friday, RINs rallied on rumors EPA may raise the Renewable Volume Obligation under the Renewable Fuel Standard for 2014 from their November 2013 proposal. EPA didn't make that announcement, though, with a spokeswoman for the agency saying, "EPA is working on the 2014 final standard and we hope to have it out as soon as possible."
Traders are still on the lookout for that announcement.
George Orwel can be reached at firstname.lastname@example.org
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