Biodiesel premiums fall to two-year low thanks to geopolitical tensions

In Washington, Platts reports biodiesel premiums have tightened to the lowest in two years thanks to rising crude prices that pushed bup gasoil. Gasoil prices are up more than a third since Feb. 27, before the US and Israel attacked Iran. Concerns over trade through the Strait of Hormuz has seen traders build a risk premium into the price. Meanwhile, premiums for RME flipped with UCOME premiums, putting the rapeseed version on top for the first time since December.