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![Gasoil price structure in NWE baffles traders and heads lower](https://static.wixstatic.com/media/6e2e80_3206745ab96842c4a3879102972b0e5b~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_3206745ab96842c4a3879102972b0e5b~mv2.webp)
Henri Bardon
Aug 5, 20241 min read
Gasoil price structure in NWE baffles traders and heads lower
Continued weakness (contango) in structure through Oct while Oct/Dec is still in backwardation makes trading gasoil quite difficult in...
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![Despite tightness in Gasoil, backwardation weakens](https://static.wixstatic.com/media/6e2e80_a073f95510cc451c98a129b85e0403df~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_a073f95510cc451c98a129b85e0403df~mv2.webp)
Henri Bardon
Jul 30, 20241 min read
Despite tightness in Gasoil, backwardation weakens
Flat price Gasoil is down $64/mt since jul 1 while backwardation weakens despite tighter stocks world wide. Obviously there is a demand...
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![Record Tallow imports reduce Soyoil use in US Biofuels](https://static.wixstatic.com/media/6e2e80_c42901836a7d45aba7f89509a9ad9b46~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_c42901836a7d45aba7f89509a9ad9b46~mv2.webp)
Henri Bardon
Jul 30, 20241 min read
Record Tallow imports reduce Soyoil use in US Biofuels
Increased Tallow and processed oil imports has pushed Soyoil use in the biodiesel/Renewable diesel to nearly 30% from 60% 2 years ago. ...
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![Soyoil breaks down taking BOGO down 25%](https://static.wixstatic.com/media/6e2e80_83df6821dffd46f7b1ca31815cac9ed7~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_83df6821dffd46f7b1ca31815cac9ed7~mv2.webp)
Henri Bardon
Jul 28, 20241 min read
Soyoil breaks down taking BOGO down 25%
When journalists don't know why a commodity breaks down, they attribute it to profit taking, since managed funds were mostly short grain...
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![Soyoil inverse remains strong despite renewed weakness in South American soyoil premiums](https://static.wixstatic.com/media/6e2e80_c4f301b95b324672a38155a25db177b0~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_c4f301b95b324672a38155a25db177b0~mv2.webp)
Henri Bardon
Jul 23, 20241 min read
Soyoil inverse remains strong despite renewed weakness in South American soyoil premiums
Soyoil backwardation to Dec ($37/mt) remains strong as US renewable diesel industry continues to draw upon all possible resources to...
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![Gasoil backwardation collapses in NWE](https://static.wixstatic.com/media/6e2e80_f22779b2cc3a4e9ab0587f0f7ead6414~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_f22779b2cc3a4e9ab0587f0f7ead6414~mv2.webp)
Henri Bardon
Jul 22, 20241 min read
Gasoil backwardation collapses in NWE
July gasoil went off board at +35/mt reflecting spot physical despite lower refining margins and demand in NW Europe. Futures reverted to...
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![EU releases Countervailing duties Vs China Biodiesel and HVO imports...corrected](https://static.wixstatic.com/media/6e2e80_34e2e7bbf9694589aad4150b1cfe0b12~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_34e2e7bbf9694589aad4150b1cfe0b12~mv2.webp)
Henri Bardon
Jul 19, 20242 min read
EU releases Countervailing duties Vs China Biodiesel and HVO imports...corrected
EU finally announced the duties on Biodiesel imports from China which originally focuses on UCOME imports for which they started an...
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![backwardation collapses in gasoil and Biodiesel in NWE](https://static.wixstatic.com/media/6e2e80_0f00aeebfb824416b5bcb27e23b4e431~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_0f00aeebfb824416b5bcb27e23b4e431~mv2.webp)
Henri Bardon
Jul 7, 20241 min read
backwardation collapses in gasoil and Biodiesel in NWE
Demand chills as Europe faces holidays doldrums Jul/Sep backwardation is down to -1.25 and probably not done yet. Even Jul/Dec gasoil...
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![Bean oil pops higher on China Indo Palm tariff speculation](https://static.wixstatic.com/media/6e2e80_83602ebbd5a845659037035cfab60bab~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_83602ebbd5a845659037035cfab60bab~mv2.webp)
Henri Bardon
Jul 4, 20241 min read
Bean oil pops higher on China Indo Palm tariff speculation
Almost one standard deviation move higher on futures up to 48.75 but settling at 48.60 - this is nearly up $66/mt. Expected retaliation...
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![US crushers continue to panic at UCO arrivals from China](https://static.wixstatic.com/media/6e2e80_f1ac93810fb042b7886b987137c6ed70~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_f1ac93810fb042b7886b987137c6ed70~mv2.webp)
Henri Bardon
Jul 1, 20241 min read
US crushers continue to panic at UCO arrivals from China
China exports of UCO to all destinations from Jan-May increased by +85% Vs 2023 driven mostly by subsidy rich US Renewable demand. ...
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![Diesel rally +$80/mt this month to nearly $800/mt](https://static.wixstatic.com/media/6e2e80_ac698c1df30a4889bfd3a1888623f443~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_ac698c1df30a4889bfd3a1888623f443~mv2.webp)
Henri Bardon
Jun 27, 20241 min read
Diesel rally +$80/mt this month to nearly $800/mt
Backwardation of ICE gasoil Jul/Sep is now attempting to break +$5/mt while Sep/Dec has also rallied to +12.50/mt. Screen diesel (HO) is...
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![US Biomass Diesel up 30% in first 5 months of 2024](https://static.wixstatic.com/media/6e2e80_0da4bda0db4e41bdb04b2f34efd56fba~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_0da4bda0db4e41bdb04b2f34efd56fba~mv2.webp)
Henri Bardon
Jun 25, 20241 min read
US Biomass Diesel up 30% in first 5 months of 2024
EPA, we have a serious issue that also begs question on how RINs have not fallen further to curtail production considering the increasing...
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![Biodiesel gross screen margin keeps rising +52% in last 3 months](https://static.wixstatic.com/media/6e2e80_6c122c40c48941f4b6942e2f7c0a737d~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_6c122c40c48941f4b6942e2f7c0a737d~mv2.webp)
Henri Bardon
Jun 24, 20241 min read
Biodiesel gross screen margin keeps rising +52% in last 3 months
Steady rise in heating oil/Gasoil and a drop in vegetable oil prices have boosted gross margin in both US and EU on Biodiesel. The...
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![Gasoil rally weakens BOGO further down -37% in last 3 months](https://static.wixstatic.com/media/6e2e80_f690fc25b1e84423bd7d054e9e656416~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_f690fc25b1e84423bd7d054e9e656416~mv2.webp)
Henri Bardon
Jun 19, 20241 min read
Gasoil rally weakens BOGO further down -37% in last 3 months
Gasoil has rallied flat price nearly $85/mt since Jun6 with backwardation of Jul/dec rallying to +$19 (remind you we were at -$4 on Jun3)....
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![](https://static.wixstatic.com/media/6e2e80_e2969daed90d4fd0ab4a38c117d1792a~mv2.jpeg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/6e2e80_e2969daed90d4fd0ab4a38c117d1792a~mv2.webp)
![US accelerates global Renewable Diesel feedstock imports](https://static.wixstatic.com/media/6e2e80_e2969daed90d4fd0ab4a38c117d1792a~mv2.jpeg/v1/fill/w_454,h_308,fp_0.50_0.50,q_90,enc_auto/6e2e80_e2969daed90d4fd0ab4a38c117d1792a~mv2.webp)
Henri Bardon
Jun 18, 20241 min read
US accelerates global Renewable Diesel feedstock imports
Pace of US imports of alternative waste oils for Renewable diesel is accelerating with Brazilian tallow now joining the ranks of Used...
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![D4 RINs pricing lag despite overproduction of Biodiesel/RD](https://static.wixstatic.com/media/6e2e80_e9ad8b4b671243188d04635c104f84a3~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_e9ad8b4b671243188d04635c104f84a3~mv2.webp)
Henri Bardon
Jun 13, 20241 min read
D4 RINs pricing lag despite overproduction of Biodiesel/RD
Clearly when one looks at LCFS credits, BOGO and BOHO who are all down nearly 35% since Jan2, you can only wonder why are the RINs not...
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![Biodiesel/RD margins remains strong +35% in last 3 months](https://static.wixstatic.com/media/6e2e80_bff40476ce10493da04980f5b9ffc18a~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_bff40476ce10493da04980f5b9ffc18a~mv2.webp)
Henri Bardon
Jun 12, 20241 min read
Biodiesel/RD margins remains strong +35% in last 3 months
Screen crush in Bio remains very healthy while USDA report did not indicate anything dire on the supply front. Soybean crops and stocks...
36 views0 comments
![Soybean oil still trading well below 20 day wdma just like Diesel](https://static.wixstatic.com/media/6e2e80_ae5080be2b0d4d36b4987c855d4b1495~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_ae5080be2b0d4d36b4987c855d4b1495~mv2.webp)
Henri Bardon
Jun 11, 20241 min read
Soybean oil still trading well below 20 day wdma just like Diesel
Despite much stronger premiums for FOB paranagua Soyoil, we are treading water on soyoil futures. Some of this can be explained by the...
29 views0 comments
![US Biodiesel imports from Jan to April rise +53% Vs last year](https://static.wixstatic.com/media/6e2e80_7a1875f47f2c43e9a6870f4f46ffc370~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_7a1875f47f2c43e9a6870f4f46ffc370~mv2.webp)
Henri Bardon
Jun 6, 20241 min read
US Biodiesel imports from Jan to April rise +53% Vs last year
USDA showed that the US imported 208Kt last Apr mostly from Germany and Spain as main suppliers bringing overall imports for first 4...
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![Gasoil structure weakness weighing on Biodiesel markets](https://static.wixstatic.com/media/6e2e80_dfb2a1f3d4334d7281f96d039b0194c3~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_dfb2a1f3d4334d7281f96d039b0194c3~mv2.webp)
Henri Bardon
Jun 4, 20242 min read
Gasoil structure weakness weighing on Biodiesel markets
Jun/Dec gasoil structure is down 84% in last 3 months while flat price is down nearly 10%. Biodiesel flat price for FAME is now $1253/mt...
36 views0 comments
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