DK - Refiners rise as EPA extends renewable fuels compliance deadline

Oil refiner shares including PBF Energy ([[PBF]] +5.2%) open with strong gains after the Environmental Protection Agency said it is finalizing a proposal to extend the deadlines for refiners to prove their compliance with U.S. biofuel blending laws for 2019 and 2020.Under a final rule released Tuesday, refiners now have until Jan. 31, 2022, to submit compliance documentation for the 2020 year, while small refiners have until Nov. 30, 2021, to submit documentation for 2019.The refining group in general may benefit since an extension in the Renewable Fuels Standard compliance deadline could lower RINs prices, J.P. Morgan analyst Phil Gresh says, adding that PBF Energy may be the top beneficiary.Also sporting strong gains in early trading: [[DK]] +5.8%, [[CVI]] +5.2%, [[HFC]] +4.7%, [[VLO]] +4.5%, [[PARR]] +3.8%, [[PSX]] +3.7%, [[MPC]] +3.5%.ETFs: [[CORN]], [[FUE]], [[CRAK]], [[PXE]]Prices for U.S. renewable fuel credits recently hit fresh multi-year highs in the latest indicator of a recovery

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Refiners rise as EPA extends renewable fuels compliance deadline