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Inventories
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories at December 31, 2024 and 2023, consisted of the following (in thousands):
Titled Inventory
Inventory Intermediation Agreement (1)
Supply and Offtake Agreement (1)Total
December 31, 2024
Crude oil and feedstocks$124,910 $178,070 $— $302,980 
Refined products and blendstock504,456 — — 504,456 
Warehouse stock and other (2)281,882 — — 281,882 
Total$911,248 $178,070 $— $1,089,318 
December 31, 2023
Crude oil and feedstocks$175,307 $— $168,549 $343,856 
Refined products and blendstock358,236 — 133,684 491,920 
Warehouse stock and other (2)324,619 — — 324,619 
Total$858,162 $— $302,233 $1,160,395 
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(1)Please read Note 12—Inventory Financing Agreements for further information.
(2)Includes $195.0 million and $237.6 million of RINs and environmental credits, reported at the lower of cost or NRV, as of December 31, 2024 and 2023, respectively. Our renewable volume obligation and other gross environmental credit obligations of $232.0 million and $286.9 million, are included in Other accrued liabilities on our consolidated balance sheets as of December 31, 2024 and 2023, respectively.
Inventories valued on the LIFO method were approximately 22% and 26% of total inventories at December 31, 2024 and 2023, respectively. As of December 31, 2024, and 2023, there was $2.3 million reserved and no reserve recorded for the lower of cost or net realizable value of inventory, respectively. As of December 31, 2024, and 2023, the current replacement cost exceeded the LIFO inventory carrying value by approximately $31.9 million and $36.1 million, respectively.