White House denies rumor

Earlier today Renewable Fuels Administration leader Bob Dinneen said he'd been told by someone in the administration that an executive order was coming shifting regulations on biofuels/ethanol in a move that would diminish obligations on refiners.

A White House spokesman denied the report and that's what has given gasoline, and oil by extension, a boost.

"There is no ethanol executive order in the works," White House spokeswoman Kelly Love said.

Dinneen later doubled down saying there is 'certainly' something in the works but the White House will keep it quiet until it's ready.