Oil markets continue to rest after highs just days ago. The ceasefire is still in effect between Israel and Iran, helping keep a lid on fuel prices.
A gallon of diesel right now is around $3.70. AAA shows the same gallon cost $3.54 just a month ago. Despite the relatively quick climb, diesel is still cheaper than this time last year, when it was $3.79 a gallon. Right now, West Texas Intermediate Crude Oil is holding around $65 per barrel.
There were concerns earlier this week that Iran would close the Strait of Hormuz, a key route for global oil shipments. Those fears eased after a ceasefire agreement, but ethanol groups say the U.S. still needs a backup plan. The Renewable Fuels Association is urging the White House to expand storage and distribution of E15. CEO Geoff Cooper says a broader ethanol market could help contain future price spikes.
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RealAg Radio host Shaun Haney explains how conflict in the Middle East is affecting spring planting as farmers navigate the evolving situation.
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NCGA Chief Economist Krista Swanson discusses the evolving role of ethanol in the current energy crisis, opportunities for expanding corn discusses the evolving role of ethanol in the current marketdemand, and the industry’s outlook moving forward.
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E15 policy could shape future corn demand outlook.
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At the Port of Brownsville, shrimpers are facing rising operating costs and increased competition, but many shrimp producers and local lawmakers remain optimistic about the industry’s future.
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