RIN prices fall sharply after news about RVOs, talk of refiner selling

Source: By Wesley Swift, Platts • Posted: Monday, August 23, 2021

 Renewable fuel credit prices on Aug. 20 cratered to three-month lows amid published reports that federal government could lower its 2021 blending mandates below 2020 levels. S&P Global Platts assessed D6 ethanol Renewable Identification Numbers for 2021 at $1.3075/RIN, down 23 cents day on day. Platts assessed D4 biodiesel RINs at $1.5025/RIN, 20.5 cents lower on the day. Both assessments were the lowest since May 17.In a two-day span, 2021 D6 RINs fell 32 cents, while D4 RINs fell 28 cents. RINs were already tumbling in the morning, with D6 RINs trading in the low $1.40s. Two market sources confirmed the early run on prices was spurred by word that refiners were selling RINs ahead of a possible announcement about the 2021 blending mandates.