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U.S. biofuel credit prices jump in early morning trade -traders

Tue, 20th Aug 2019 14:49

By Stephanie Kelly

NEW YORK, Aug 20 (Reuters) - Renewable fuel credits for 2019traded about five cents higher each on Tuesday as buyers wereactive in early morning trade, market participants said.

D6 credits traded as high as 15 cents apiece, up from 10.25cents each the previous session, traders said.

RIN prices strengthened due to "lots of refiners asking foroffers," one trader said.

The credits are used by oil refiners and importers to showcompliance with EPA-mandated ethanol blending quotas forpetroleum-based fuels. They are generated with every gallon ofbiofuel produced.

Prices have been under pressure since the U.S. EnvironmentalProtection Agency (EPA) granted 31 small refinery biofuelwaivers for 2018 earlier this month.(Reporting by Stephanie Kelly; Editing by David Gregorio)

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