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Petroleum refiners including Chevron, Marathon and Valero are expanding into renewable diesel, which is made partly from soybean oil and used cooking oil. Smaller independent refiners are struggling under federal biofuel blending requirements.
Growing refiner investment in renewable diesel sustains demand for soybean oil and other feedstocks, while blending mandates shape how much biofuel the market must absorb.
subscriber.politicopro.comJan 10, 2024After 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
