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- Fuel and Freight Daily Update - 10/2/25
10/02/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from October 1st, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Nov) | $61.78 | ▼ 0.59 |
Brent Final Day (Dec) | $65.35 | ▼ 0.68 |
RBOB (Nov) | $1.8859 | ▼ 0.0364 |
ULSD (Oct) | $2.3019 | ▼ 0.0222 |
Ethanol CU (Oct) | $2.01500 | ▲ 0.0525 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Dec) | $30.49 | ▼ 0.09 |
RB/Brent (Nov) | $11.98 | ▼ 0.73 |
HO/WTI Crack (Nov) | $34.90 | ▼ 0.34 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C57): -5.00
Jet Fuel 54g (C57): -14.25
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $0.9749 | ▲ 0.0399 |
D4 (Biodiesel) | $1.0099 | ▲ 0.0399 |
D5 (Advanced) | $0.9850 | ▲ 0.0225 |
D3 (Cellulosic) | $2.2500 | ▲ 0.0200 |
Freight Market Summary
Clean Tankers – The U.S. Gulf remains oversupplied with clean tonnage, with owners still struggling to find employment. Exports into Latin America and the U.S. East Coast continue to provide necessary outlets, but not enough to rebalance the market. Risk premiums tied to delays and geopolitical tension are cushioning the downside, keeping rates soft but stable.
Crude Tankers – VLCCs continue to route via the Cape of Good Hope, bypassing Hormuz and the Red Sea. These extended voyages keep capacity tied up globally and sustain firmness in Middle East–Asia long-haul rates. The Cape detour remains entrenched as the “default,” providing structural support even as global demand signals stay muted.
LNG Shipping – LNG freight markets remain tight. Atlantic Basin demand is steady, but vessel availability is constrained, with seasonal weather and cautious routing extending voyage durations. Spot supply remains thin, keeping rates well-supported and leaving the market vulnerable to upside in the event of incremental demand.
Routing & Geopolitics – No major routing changes observed. Clean, crude, and LNG segments continue to avoid high-risk chokepoints, reinforcing longer voyages and absorbing global tonnage. These structural inefficiencies provide a durable pricing floor, leaving the market balanced but fragile.
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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