RIN prices slide ahead of White House meeting over future of RFS

In Illinois, Reuters reports that RIN prices slumped to their lowest level since October to 74 cents ahead of a meeting to be held at the White House between staff of Republican Senators Cruz and Pat Toomey of Pennsylvania representing oil states and Republican Senators Chuck Grassley and Joni Ernst of Iowa, along with Deb Fischer of Nebraska representing biofuel producers. Though small refiners who were expecting to receive waivers for complying with the Renewable Fuel Standard sold RINs that helped to weigh on prices, traders said it was the expectation of a White House-brokered deal on the RFS that could lead to lower RIN prices that saw the market slip.

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