# US biofuel inputs hit multiyear highs on war, policy | Latest Market News

> US renewable diesel feedstocks reached their highest prices of Trump's second term, with all major feedstocks at two-year-plus highs in March. Energy prices surged as Iran attacked Middle East energy infrastructure and restricted access to the Strait of Hormuz. Soybean oil futures are up 36pc this year, though most of that gain predates the war.

- Date: 2024-03-25 · published 2024-03-25T12:00:00.000Z
- Category: geopolitics · region US · magnitude high
- Page: https://feedsoft.ai/events/31291-us-biofuel-inputs-hit-multiyear-highs-on-war-policy-latest-market-news
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Costlier crude makes biofuel feedstocks more competitive, and supportive policy suggests prices could stay firm even if Middle East tensions ease, which raises input costs for food manufacturers.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2023-07-24 | [Palm oil up over news on Ukraine port attack - Markets - Business Recorder](https://feedsoft.ai/events/11937-palm-oil-up-over-news-on-ukraine-port-attack-markets-business-recorder.md) | +3.6% | -1.3% |
| SBO | 2024-10-04 | [Palm surges on Middle East conflict, records highest weekly gain in 16 months - Markets - Business Recorder](https://feedsoft.ai/events/7764-palm-surges-on-middle-east-conflict-records-highest-weekly-gain-in-16-months.md) | -0.2% | +4.0% |
| SBO | 2022-03-29 | [War in Ukraine impacts sunflower market](https://feedsoft.ai/events/42390-war-in-ukraine-impacts-sunflower-market.md) | +264.4% | +276.2% |
| SBO | 2026-04-02 | [Commodities market update: unrest and high prices • De Molenaar](https://feedsoft.ai/events/19834-commodities-market-update-unrest-and-high-prices-de-molenaar.md) | +1.8% | +7.0% |
| SBO | 2026-07-24 | [Physical oil prices jump with some nearing $110 as Iran, Ukraine wars hit supply - Markets - Business Recorder](https://feedsoft.ai/events/11578-physical-oil-prices-jump-with-some-nearing-110-as-iran-ukraine-wars-hit-supply.md) | -6.6% | -2.1% |
| WTI | 2024-03-25 | [New York Harbor RBOB, ULSD hit multiyear highs: Update \| Latest Market News](https://feedsoft.ai/events/31385-new-york-harbor-rbob-ulsd-hit-multiyear-highs-update-latest-market-news.md) | +4.1% | +3.2% |
| WTI | 2018-06-29 | [Oil hits new multi-year high as market tightens on lost supply](https://feedsoft.ai/events/8782-oil-hits-new-multi-year-high-as-market-tightens-on-lost-supply.md) | +0.5% | -6.5% |
| WTI | 2020-05-16 | [OPEC+ Supply Cuts: Latest Oil Market News on Output Status - Bloomberg](https://feedsoft.ai/events/53027-opec-supply-cuts-latest-oil-market-news-on-output-status-bloomberg.md) | +13.5% | +26.0% |

## Sources

- argusmedia.com: https://www.argusmedia.com/en/news-and-insights/latest-market-news/2804080-us-biofuel-inputs-hit-multiyear-highs-on-war-policy

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.