US renewable fuel credit prices climb 11% after Reuters report -traders

Source: By Stephanie Kelly, Reuters • Posted: Thursday, June 2, 2022

NEW YORK, June 1 (Reuters) – U.S. renewable fuel credit prices climbed 11% on Wednesday, traders said, after a Reuters report that said the Biden administration likely will raise 2021 biofuel blending mandates.

U.S. renewable fuel (D6) credits traded at $1.50 each, up from $1.35 each before the news, traders said.

The U.S. Environmental Protection Agency in December proposed that refiners blend 13.32 billion gallons of ethanol into the fuel pool, a move that angered farm-belt lawmakers and the industry who said it was too low. Recent federal figures show U.S. consumption of ethanol at about 13.94 billion gallons. read more

Reporting by Stephanie Kelly; Editingby Mark Porter