US refining margins react to weak demand, rising stocks, RIN prices

摘要

US margins softened as refiners got ahead of demand by pumping up runs while sentiment for the possibility of some refiner relief from the US Renewable Fuel Standard is undercutting the record high price of RINs, an analysis from S&P Global Platts showed June 14. The price of RINs - the renewable credits that obligated parties like refiners need to buy to meet their renewable volume obligation for blending ethanol and biodiesel into their gasoline and diesel under the Environmental Protection Agency's RFS - had been on the upswing due to uncertainty over 2021 RVOs.