Biodiesel prices hit one-year highs on stronger heating oil and diesel futures

In Illinois, Platts reports that biodiesel prices reached their highest levels in a year to $3.3585/gal in the US Gulf Coast and Midwest regions earlier this week thanks to strong heating oil prices. Since December 15, prices for the regions have risen 13.5 cents and 19.5 cents respectively. Ultra low sulfur diesel futures spiked on Tuesday following an explosion at an oil pipeline in Libya that is expected to reduce availability of crude, further supporting biodiesel prices.

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