D4 biomass-based diesel RIN prices, the credits used to comply with the Environmental Protection Agency's annual Renewable Volume Obligation remain range-bound this week.
"RINs remain very range-bound and will continue that way until we get confirmed news or a noteworthy rumor," commented a biodiesel broker this morning.
The biodiesel market is waiting to see if EPA has lifted the blending requirement for biomass-based diesel from the 1.28 billion gallons the agency proposed late last year, with the industry lobbying for a 1.7-billion-gallon D4 RVO. Last week, EPA submitted its final RVO for 2014 to the Office of Management and Budget, which is nine months late. OMB will take at least 30 days in its review, pushing the final RVO publication to at least September.
D4 2014 biomass-based RINs traded this morning at 53.25 cents, unchanged from Wednesday and 0.25 cents lower from prior Friday.
Myke Feinman can be reached at firstname.lastname@example.org
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