Renewable product margins beat the consensus estimates by 8% in the Q3 and came in above the company’s guided range, supported by high diesel prices. With lower volumes expected in Q4 due to maintenance and falling diesel prices, these high margins will be hard to maintain although the company is guiding for $800-900/t. Declining diesel prices are an overhang for term contracts as Neste is negotiating for FY24 and aims to reach 70-80% of its renewable volume on top of the already-contracted leve ....
