RFS Market: RINs nose-dive to nearly 3-year low on narrowing BOHO spread, Middle East conflict

Biofuel credit (RIN) values under the US Renewable Fuel Standard (RFS) plummeted on Monday to the lowest level since early 2021, as traders pointed to continued bearish programme fundamentals around the bean oil-heating oil (BOHO) spread, and potential impacts of sanctions stemming from this weekend’s reignited conflict between Israel and Gaza.