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HollyFrontier plans to convert its 52,000 b/d Cheyenne, Wyoming refinery into a renewable diesel plant that will produce about 90 million gallons per year. The company expects to spend $125 million to $175 million, with completion in early 2022.
Refiners shifting capacity to renewable diesel adds future demand for vegetable oils and animal fats as feedstock. The project is small relative to total U.S. diesel supply, so the price effect is limited.
ogj.comRobert BrelsfordJun 2, 2020
reuters.comJun 1, 2020After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.
After 842 past bullish policy events, Soybean Oil 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.
