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Biodiesel Energy US

A gain in the US dollar sees gasoil prices slide

With a national holiday in China on Friday and Labor day in the US today, market participants are once again anticipating a quiet trading day today, with bean oil markets closed in the US. BOGO spreads were up $5/t this morning, with gasoil falling slightly lower. A firmer dollar has pushed gasoil down this morning, as well as the market still reacting to a stock build in crude of almost 5 million barrels last Wednesday, leaving stocks well above the 5 year average. POGO was up $1/t this morning. El Nino weather forecasts could have a significant impact on 2016 Indonesian palm production, and see it drop nearly 20%, possibly adding support to the falling palm oil prices.

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