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No deal from White House biofuels meeting

Published 02/27/2018, 02:15 PM
© Reuters.  No deal from White House biofuels meeting
ADM
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VLO
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MPC
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GPRE
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ALTO
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REX
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CVI
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REGI
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PSX
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HFC
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PBF
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CVRR
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FUE
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1ZEc1
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  • A meeting today between Pres. Trump and senators representing both the oil and corn industries failed to reach agreement on how best to lower the cost of U.S. biofuels policy to refiners.
  • As biofuels volume quotas have increased over the years, so have prices for the credits - good news for companies that blend the fuels, but refiners that do not have their own blending facilities are facing rising costs.
  • Ethanol credits reportedly jumped as much as $0.06 on news of the deal failure.
  • Potentially relevant tickers include ADM, GPRE, PEIX, REGI, REX, VLO, PBF, PSX, MPC, HFC, CVI, CVRR.
  • ETF: FUE
  • Now read: Why Phillips 66 Is Worth Buying


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