RFA calls for investigation into RIN market manipulation

In Washington, the Renewable Fuels Association is calling for a federal investigation into possible market manipulation of RIN prices. The RFA wrote letters to both the Environmental Protection Agency’s administrator as well as the Commodity Futures Trading Commission Chairman asking them to look into potential manipulation of the market that has seen prices surge 30% since May 18. Several analysts including Goldman Sachs are predicting higher RIN prices through 2017. The RFA didn’t allude to what kind of manipulation there may be in its letters.