No Bids, No Normal

Crude traded peace, but Indian Oil’s failed Gulf shipping tender shows why Hormuz freight risk still supports diesel cracks, D4 RINs and biodiesel margins.

For biodiesel and RD traders, today was not about crude being down. WTI Jul fell $1.78/bbl to $74.82 and Brent Aug fell $0.90/bbl to $77.00, but gasoil Jul rose $12.00/mt to $890.75 and heating oil J…