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U.S. renewable fuel credits continue slide to 2-month lows -traders

U.S. renewable fuel credits continue slide to 2-month lows -traders

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New York: U.S. biofuels credits plunged on Wednesday, extending a slide on news that regulators are considering larger cuts to renewable fuels use requirements.

Prices of renewable fuel (D6) credits fell to 73 cents each on Wednesday, down from 83 and 83.5 cents previously. The biomass-based diesel credits (D4) were 86 cents apiece, down from $1.04-$1.05 on Tuesday, traders said.

The U.S. Environmental Protection Agency (EPA) on Tuesday said it was seeking comment on a proposal to reduce 2018 biodiesel blending requirements in the domestic fuel supply, roiling the market for soyoil as well as the government-issued credits used by energy companies to prove compliance.

Source: Reuters
Anand Gupta Editor - EQ Int'l Media Network

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