Boho factor hits three-year low as heating oil prices jump

In New York state, Platts reports that the Boho factor between heating oil and soybean oil feedstock for biodiesel fell to more than a three-year low last Friday at 21.99 cents/gal on the back of higher heating oil futures supported by Middle East tensions and shrinking stocks. In a countermove, soybean oil prices fell last week, helping to squeeze the boho factor, which could in turn help to drive demand for discretionary blending but the window could be short lived as that increased demand would push the boho factor higher.