CVR Energy, HollyFrontier gain after SCOTUS ruling on refinery waivers

REX American Resources

25/06/2021 20:41

** Shares of oil refineries HollyFrontier Corp  HFC.N  and
CVR Energy  CVI.N  rise 2.5% and 4.9%, respectively 
    ** U.S. Supreme Court sides with refiners, rules they can
receive extensions on waivers from renewable fuel standard (RFS)
requirements even after prior exemptions had expired
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    ** Ruling will make it easier for small oil refineries to
win exemptions from law requiring increased levels of ethanol
and other renewable fuels in their products 
    ** HollyFrontier urges U.S. Environmental Protection Agency
to "immediately take action to make the RFS a workable program
for U.S. refiners and consumers."
    ** Ruling a blow for biofuel producers; Renewable Energy
Group  REGI.O  falls 3.3%, Rex American Resources  REX.N  loses
1.3%
    ** Corn  CZ1  and soybean  SX1  futures fall after the
ruling on expectations of lower demand; Teucrium Corn Fund
 CORN.K  loses 2.6%, Teucrium Soybean Fund  SOYB.K  dips 1.5%
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 (Reporting by Lisa Mattackal)
 ((lisapauline.mattackal@thomsonreuters.com; Twitter: https://twitter.com/LPM94))