Market Commentary 18 May 2018
18 May 2018
Creeping crude prices underpinned the principle moves in the UK’s RTFC market this week, with physical low sulfur diesel prices up over $22/mt from last Friday, to poke just above the $699/mt level.
p/cert. +/-
RTFCw Year 11 18.25 -0.50
RTFCc Year 11 18.25 -0.50
RTFC Year 10 12.50 -0.75
Outright
$/mt
Spread to ULSD
$/mt
Spread to ULSD
p/litre
UCOME 1065.25 366.00 24.04
FAME 0 925.25 226.00 14.84
RME 925.25 226.00 14.84
ULSD 699.25
USD/GBP 0.7421
RTFC-RHI spread (waste based biomethane)*
p/kWh p/litre
RTFCw Year 11 1.99 7.36
* 3 pence/kWh RHI
Market Commentary 11 May 2018
11 May 2018
It was another week in which trading activity was light and both the buy side and the sell side showed little in the way of clear indications.
p/cert. +/-
RTFCw Year 11 18.75 +0.25
RTFCc Year 11 18.75 +0.25
RTFC Year 10 13.25 +0.25
Outright
$/mt
Spread to ULSD
$/mt
Spread to ULSD
p/litre
UCOME 1088.75 411.00 26.82
FAME 0 948.75 271.00 17.68
RME 949.75 272.00 17.75
ULSD 677.75
USD/GBP 0.7374
RTFC-RHI spread (waste based biomethane)*
p/kWh p/litre
RTFCw Year 11 2.13 7.86
* 3 pence/kWh RHI
Market Commentary 4 May 2018
4 May 2018
Bids and offers for Year 11 RTFCs were heard bracketing either side of traded levels this week, with bids heard at 18 p, offers heard at 19 p and trades at 18.5 p/certificate.
p/cert. +/-
RTFCw Year 11 18.50 +0.50
RTFCc Year 11 18.50 +0.50
RTFC Year 10 13.00 0.00
Outright
$/mt
Spread to ULSD
$/mt
Spread to ULSD
p/litre
UCOME 1047.00 395.00 25.86
FAME 0 887.00 235.00 15.38
RME 889.00 237.00 15.51
ULSD 652.00
USD/GBP 0.7397
RTFC-RHI spread (waste based biomethane)*
p/kWh p/litre
RTFCw Year 11 2.06 7.61
* 3 pence/kWh RHI
Market Commentary 27 Apr 2018
27 Apr 2018
With little in the way of trading activity to herald movement, RTFC values were unchanged week-on-week, with Year 10 at 13 p/certificate, and Year 11 at 18 p/certificate.
p/cert. +/-
RTFCw Year 11 18.00 N/A
RTFCc Year 11 18.00 N/A
RTFC Year 10 13.00 0.00
Outright
$/mt
Spread to ULSD
$/mt
Spread to ULSD
p/litre
UCOME 1000.50 345.00 22.15
FAME 0 860.50 205.00 13.16
RME 873.50 218.00 14.00
ULSD 655.50
USD/GBP 0.7255
RTFC-RHI spread (waste based biomethane)*
p/kWh p/litre
RTFCw Year 11 1.92 7.11
* 3 pence/kWh RHI
Market Commentary 20 Apr 2018
20 Apr 2018
First full week of the new RTFO and activity remained muted, with much of direction drawn from the mineral oil complex, which saw fresh upward momentum take gasoil prices to new heights.
p/cert. +/-
RTFCw Year 11 18.00 N/A
RTFCc Year 11 18.00 N/A
RTFC Year 10 13.00 +0.75
Outright
$/mt
Spread to ULSD
$/mt
Spread to ULSD
p/litre
UCOME 1011.00 370.50 23.41
FAME 0 851.00 210.50 13.30
RME 854.00 213.50 13.49
ULSD 640.50
USD/GBP 0.7141
RTFC-RHI spread (waste based biomethane)*
p/kWh p/litre
RTFCw Year 11 1.92 7.11
* 3 pence/kWh RHI
Market Commentary 13 Apr 2018
13 Apr 2018
The final week of the old RTFO arrangements saw a familiar issue affecting the UK’s arrangements, as geopolitics supported crude oil prices which filtered through into refined product prices – not least diesel, which saw sharp increases mid-week.
p/cert. +/-
RTFCw Year 11 N/A N/A
RTFCc Year 11 N/A N/A
RTFC Year 10 12.25 -0.75
Outright
$/mt
Spread to ULSD
$/mt
Spread to ULSD
p/litre
UCOME 977.00 339.00 21.04
FAME 0 817.00 179.00 11.11
RME 854.00 216.00 13.41
ULSD 638.00
USD/GBP 0.7014
RTFC-RHI spread (waste based biomethane)*
p/kWh p/litre
RTFCw Year 11 N/A N/A
* 3 pence/kWh RHI
Market Commentary 6 Apr 2018
6 Apr 2018
With the RTFO in its penultimate week before the UK’s mandate increases from 4.75% to 7.25%, a long weekend and domestic holidays collectively dampened activity in the certificate markets.
p/cert. +/-
RTFCw Year 11 N/A N/A
RTFCc Year 11 N/A N/A
RTFC Year 10 13.00 +0.20
Outright
$/mt
Spread to ULSD
$/mt
Spread to ULSD
p/litre
UCOME 946.50 341.00 21.42
FAME 0 796.50 191.00 12.00
RME 840.50 235.00 14.76
ULSD 605.50
USD/GBP 0.7098
RTFC-RHI spread (waste based biomethane)*
p/kWh p/litre
RTFCw Year 11 N/A N/A
* 3 pence/kWh RHI