Biodiesel prices rise on the back of higher crude and heating oil futures

In New York state, heating oil futures have reversed their weak trend during the last several days and are instead following crude oil prices higher in part due to a wildfire raging near Canadian oil sand areas. Those higher prices are in turn supporting biodiesel prices to a 14-month high in the Midwest and Gulf Coast regions. On Tuesday, Gulf Coast biodiesel prices were heard at $3.2975 per gallon while Midwest prices were higher at 3.3775 per gallon.