Middle East oil shocks renew global interest in biofuels

The Middle East conflict has pushed crude oil prices higher and caused fuel shortages in most major economies. As a result, governments around the world are ratcheting up biofuel blend levels to reduce reliance on uncertain oil imports, while biofuel producers now find margins more attractive, spurring output across key markets. These twin forces of improved economics and regulatory support are reshaping demand and pushing up the prices of agricultural feedstocks used to make biofuels.