prices Archives

Global Partners axes 70 jobs as it focuses on ethanol amid low oil prices

Plantations International News US-based logistics frim Global Partners LP has cut 70 jobs and aims to handle only ethanol, not crude, at its rail terminal in Oregon in response to low oil prices. The company, which owns one of the largest terminal networks of petroleum products and renewable fuels in the north east of the US, also cut its distribution for the October-December period by 33.7% compared to the previous quarter, and is evaluating all its businesses for possible disposition or reconfiguration. In a statement, Global Partners' CEO, Eric Slifka, said: "We continue to be negatively impacted by fixed costs associated [...]

D4 RIN prices suggest traders predict tax credit reinstatement

Plantations International News A drop in soybean oil prices since June has led to a decline in biodiesel prices, reducing the blend margin. Since D4 RIN values are a function of the blend margin and the two generally correlate, RIN prices have fallen too. But as University of Illinois economist Scott Irwin writes in a Sept. 10 FarmDocDaily post, “Why is the Price of Biodiesel RINs Plummeting?” the RIN price drop since June more than doubles the blend margin decline. As Irwin points out, improving soybean production prospects in the U.S. and concerns about economic growth in China have led to [...]