October 20, 2017 / 1:56 PM / in a month

U.S. biofuel credits hit 2-month high as federal government retreats on reforms

NEW YORK, Oct 20 (Reuters) - The most popular form of biofuel credits hit a two-month high in early trading on Friday on news the U.S. Environmental Protection Agency was backing down on price-cutting reforms to the nation’s renewable fuel program, traders said.

Prices of renewable fuel (D6) credits traded between 87 and 90 cents in early trading Friday, traders said, up from 81.5 and 82 cents each on Thursday. That’s the highest price since late August, according to Oil Price Information Service Data. (Reporting By Jarrett Renshaw)

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