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Indias final services PMI for May was 59.8, in line with expectations and down from 58.9 in May.On June 3, during the World Trade Organizations 7th "Trade and Environment Week," China and Australia jointly hosted a seminar in Geneva, Switzerland on June 2, entitled "Carbon Accounting, Standards, and Trade: Reducing Rule Fragmentation and Supporting the Global Decarbonization Process Through International Cooperation." The seminar brought together international organizations, authoritative think tanks, and industry experts. The seminar focused on the themes of carbon accounting, standards coordination, and trade integration, highlighting the prominent challenges arising from the deep intertwining of climate and trade. Hu Yingzhi, Deputy Permanent Representative of China to the WTO, stated in her speech that the key issue in the trade and environment field is not the lack of standards, but rather the continued increase in rule fragmentation. The WTO should play a role from a trade perspective in enhancing transparency, promoting policy coordination, and strengthening development cooperation and capacity building.Indonesias upstream regulator reported that crude oil production in Indonesia from January to May was 576,200 barrels per day, and natural gas production was 6.55 billion cubic feet per day.June 3rd, Futures News: Economies.com analysts latest view: WTI crude oil futures have risen strongly in recent intraday trading, supported by a positive Relative Strength Index (RSI) and continuing to trade above the 50-day EMA, providing additional momentum for the bullish trend. Prices have also successfully broken through a short-term corrective downtrend line, a positive technical signal reflecting increased buying interest and reduced selling pressure. These factors collectively enhance the prospect of further gains for WTI crude oil futures in the short term.June 3rd, Futures News: Economies.com analysts latest view: Brent crude oil futures have seen consecutive gains in recent intraday trading, supported by positive signals from the Relative Strength Index (RSI). Prices have successfully broken through the 50-day EMA, overcoming previous negative resistance. This breakout has provided additional bullish momentum, helping prices break through the upper boundary of the short-term downward correction channel that had previously limited their movement. This further strengthens the likelihood of Brent crude oil futures continuing their upward trend in the short term.

U.S. EPA Shortly to Announce Judgment on Small Refinery Biofuel Waivers

Charlie Brooks

Apr 07, 2022 09:40

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The EPA has accumulated a backlog of more than 60 requests for so-called Small Refinery Exemptions, which are sought by refineries that argue the cost of blending biofuels such as ethanol into their fuel could drive them out of business, following a 2020 court decision that narrowed the criteria for qualifying for the relief.


The EPA proposed in December to reject 65 outstanding SRE applications. According to the EPA's website, the agency currently has 69 outstanding SRE petitions.


According to the sources, the EPA is on the verge of announcing a decision on some or all of the outstanding SREs as soon as Thursday. It was unknown if the agency's conclusion would be consistent with the December suggestion.


The agency did not respond to a request for comment.


The EPA under former President Donald Trump significantly boosted such exemptions to refiners, infuriating biofuel producers who said the administration was misusing the program to benefit its oil business cronies at the cost of farmers. The EPA under Trump's administration refuted the assertion.


Oil refineries must either mix billions of gallons of corn-based ethanol and other fuels into the fuel pool or acquire credits from those that do. The initiative aims to assist farmers while also reducing fuel imports.

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