RINs tumble after EPA proposes extending RFS deadline again

Source: By OPIS • Posted: Sunday, November 21, 2021

Renewable Identification Number (RIN) credit markets on Thursday morning moved sharply lower following an EPA announcement that the agency has proposed extending Renewable Fuel Standard (RFS) compliance deadlines again. The proposal would extend the deadline for 2020 and 2021 compliance years for all obligated parties as well as the 2019 compliance year for small refineries. EPA provided nothing new on its long-delayed Renewable Volume Obligation (RVO) targets for 2021 and 2022. Ethanol-related D6 2021 RINs were heard traded from $1.09 down to $1.05 by midday. OPIS assessed the credits up 2.5cts at $1.11 on Wednesday, up 3.5cts from a week ago. “Bloodbath,” one RINs trader said.