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- Fuel and Freight Daily Update - 1/12/26
01/12/2026
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from January 9th, 2026
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Feb) | $59.12 | ▲ 1.36 |
Brent Final Day (Mar) | $63.34 | ▲ 1.35 |
RBOB (Feb) | $1.7806 | ▲ 0.0203 |
ULSD (Feb) | $2.1350 | ▲ 0.0155 |
Ethanol CU (Jan) | $1.5850 | ▲ 0.0050 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Mar) | $26.10 | ▼ 0.59 |
RB/Brent (Mar) | $12.49 | ▼ 0.34 |
HO/WTI Crack (Feb) | $30.55 | ▼ 0.71 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C05): -8.60
Jet Fuel 54g (C06): -17.75
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $1.1100 | ▼ 0.0050 |
D4 (Biodiesel) | $1.1875 | ▼ 0.0050 |
D5 (Advanced) | $1.1750 | ▼ 0.0050 |
D3 (Cellulosic) | $2.3490 | ▼ 0.0025 |
Freight Market Summary
Clean Tankers:
Clean-product tanker markets remain soft. Tonnage availability across the U.S. Gulf and other key export regions continues to outpace cargo demand, keeping prompt lists long. While post-holiday activity is gradually returning, volumes remain light and insufficient to meaningfully tighten the market. Owners are still discounting rates to secure stems, and sentiment remains cautious early in the year.
Crude Tankers:
Crude freight remains steady with underlying support. A significant portion of VLCC and Suezmax tonnage remains committed to long-haul or extended voyages, limiting effective supply. Spot demand remains muted, but structural tightness continues to support rate floors on major long-haul routes. Overall, the market remains stable but rangebound.
LNG Shipping:
LNG freight continues to trade firm. Winter demand is keeping vessel availability tight, particularly in the Atlantic Basin, while longer voyage durations continue to absorb capacity. Charterers remain active in securing both prompt and forward coverage, allowing owners to maintain pricing leverage despite still-thin January liquidity.
Dry Bulk & General Freight:
Dry-bulk markets are mixed as global trade activity slowly normalizes. Some bulk commodity routes are seeing modest improvement, while container and general cargo segments remain under pressure from excess capacity and uneven demand. Rate momentum remains limited across most lanes.
Overall Outlook:
Freight markets remain bifurcated heading into mid-January. Crude and LNG sectors continue to benefit from structural constraints and seasonal demand, while clean-product tanker and container markets remain weighed down by oversupply and slow cargo recovery. A clearer directional shift will depend on how quickly industrial activity and export programs ramp up in the weeks ahead.
Disclaimer
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