New York Harbor (NYH) is the most liquid biodiesel market in the US. This market’s importance will continue to increase, as states in the US northeast mandate more biodiesel in their winter heating oil.

B99 refers to biodiesel that has been blended with a small (<1%) quantity of conventional diesel. Blending biodiesel with conventional diesel triggers the “detachment” of all associated credits, so B99 is the price of the biodiesel without any environmental or tax credits.

Price assessment details

What are the advantages of the Argus New York Harbor b99 biodiesel price assessment?

Argus is the pre-eminent price reporting agency for New York Harbor. The Argus NYH B99 biodiesel price assessment benefits from a market-appropriate methodology and a full day of underlying spot market trade. This approach delivers transparency and reliability and results in a price assessment that is considered the benchmark for biodiesel in the US and Canada.

How is this assessment used?

The Argus NHY B99 price assessment is used in contract settlements for supply agreements, swaps and futures trades, and transfer pricing. Users include refiners, suppliers, logistics providers and terminal operators, among many others.

The Argus NYH B99 assessment is listed on the Intercontinental Exchange (ICE). This monthly, cash-settled future allows users to take on financial exposure in the US biodiesel market.

Argus NYH biodiesel futures use cases

These contracts settle against the daily Argus price assessments set out in the contract terms – typically an average of assessments over the named calendar month.

Argus NYH B99 biodiesel futures can be used to lock in existing exposure to Argus NYH B99 prices, or simply to take new financial exposure to this market.

Use cases include:

  • Trading firms can use these futures to protect against changes in the spread between prompt NYH biodiesel and NYH heating oil futures
  • Heating oil distributors and suppliers can fully hedge their biodiesel-blended heating oil supplies

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