Colonial shutdown: Increased imports boost ethanol RINs, RVO to record highs

Source: By OPIS • Posted: Tuesday, May 11, 2021

Shutdowns related to a weekend cyberattack on Colonial Pipeline in the U.S. led to increased fuel imports at the start of the week, which lifted already soaring Renewable Identification Number (RIN) values to record highs. Colonial, the largest refined-product pipeline in the country, has had its main lines shut down since Friday, halting the flow of refined products from the U.S. Gulf Coast to the East Coast. Market sources early Monday told OPIS that the surge of imports into New York Harbor would drive buying interest in RINs, but perhaps not for an extended period.