Fuel and Freight Daily Report - 6/12/25

Liquidity Energy, LLC

Author

Nicholas Coolidge
June 12, 2025

06/15/2025

Futures Market Settles

Front Month Settlements:

  • WTI (Jul): $68.15 ▲ $3.17

  • Brent (Aug): $69.77 ▲ $2.90

  • RBOB (Jul): $2.1668 ▲ 7.88¢

  • ULSD (HO Jul): $2.2053 ▲ 6.37¢

Key Spreads & Cracks

  • HO/Brent (Aug): $22.40 ▼ 7¢

  • RB/Brent (Aug): $20.51 ▲ 33¢

  • HO/WTI Crack (Jul): $24.47 ▼ 49¢

  • HOGO (Jul Futures): +13.20¢ ▼ 0.55¢

HOGO Swaps:

  • July '25: +13.15¢ ▼ 0.05¢

  • August '25: +13.95¢ ▲ 0.05¢

  • Q3 '25: +13.65¢ ▼ 0.05¢

  • Q4 '25: +15.05¢ (flat)

ULSD & Jet Physical Market Settles (LT & ME Contracts)

Colonial Pipeline Differentials:

  • ULSD 62g (C30): -7.10¢

  • Jet Fuel 54g (C31): -17.00¢

LT (ULSD) CME Blocks:

  • BALMO: -7.10¢

  • Q3 ’25 Avg: -7.03¢

  • Q4 ’25 Avg: -9.58¢

ME (Jet) CME Blocks:

  • BALMO: -17.00¢

  • Q3 ’25 Avg: -16.58¢

  • Q4 ’25 Avg: -20.23¢

Freight Market Summary

Clean Tankers:
Tonnage remains long out of the USGC. Little change in Latin American demand, though a few prompt fixtures cleared overhang in the distillates window. Sentiment cautious.

Crude Tankers:
Momentum picked up on higher flat price but little in spot action; July charter programs still developing. WAF and USG-East Asia quiet.

Pipeline & Terminals:
Line space remains allocated on Colonial 62g and 54g. Spreads widened slightly with broader product strength but demand remains rangebound.

LNG Shipping:
Atlantic charter rates continue to tick higher for late June to early July. Tighter window seen on the U.S. East Coast.

Market Signals to Watch

  • Product cracks expanded alongside crude rally

  • RINs saw modest profit-taking, but curve structure remains supported

  • Diesel remains the leader on strength in refining margins

  • Brent-WTI spread narrowed—watch export arbitrage

  • HOGO swaps stable beyond front-month volatility

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Disclaimer

The Coolidge Report is published by Coolidge Shop LLC and is intended for informational purposes only. This report does not constitute trading recommendations, financial advice, or an offer to buy or sell any commodity. While efforts are made to ensure accuracy, Coolidge Shop LLC makes no warranties regarding completeness or reliability. Coolidge Shop LLC is not registered as a Commodity Trading Advisor (CTA) with the CFTC, and this report should not be interpreted as a solicitation to engage in futures or derivatives trading.

This article and its contents are provided by Liquidity Energy, LLC ("The Firm") for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any commodity, futures contract, option contract, or other transaction. Although any statements of fact have been obtained from and are based on sources that the Firm believes to be reliable, we do not guarantee their accuracy, and any such information may be incomplete or condensed.

Commodity trading involves risks, and you should fully understand those risks prior to trading. Liquidity Energy LLC and its affiliates assume no liability for the use of any information contained herein. Neither the information nor any opinion expressed shall be construed as an offer to buy or sell any futures or options on futures contracts. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Any opinions expressed herein are subject to change without notice, are that of the individual, and not necessarily the opinion of Liquidity Energy LLC