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Crude Price Surge Sparks Global Shift to Biofuels

4/21/2026

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Story summary
  • Rising crude prices, driven by the U.S.-Israeli war on Iran, boost demand for biofuels.
  • The war has disrupted 20% of global oil supplies and driven crude prices up more than 30% since February.
  • Vietnam plans to switch to ethanol-blended gasoline.
  • Indonesia will increase biodiesel blending.
  • The United States (U.S.) pushes for higher biofuel blending.