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- Fuel and Freight Daily Update - 10/27/25
11/05/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from October 24th, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Dec) | $61.50 | ▼ 0.29 |
Brent Final Day (Dec) | $65.94 | ▼ 0.05 |
RBOB (Nov) | $1.9227 | ▼ 0.0042 |
ULSD (Nov) | $2.4031 | ▲ 0.0001 |
Ethanol CU (Oct) | $1.8400 | ▼ 0.0100 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Dec) | $33.99 | ▲ 0.27 |
RB/Brent (Dec) | $12.54 | ▼ 0.13 |
HO/WTI Crack (Dec) | $38.43 | ▲ 0.51 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C62): -7.75
Jet Fuel 54g (C62): -14.00
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $0.9975 | ▲ 0.0013 |
D4 (Biodiesel) | $1.0070 | ▼ 0.0055 |
D5 (Advanced) | $0.9975 | ▼ 0.0075 |
D3 (Cellulosic) | $2.3550 | ▼ 0.0150 |
Freight Market Summary
Clean Tankers – The U.S. Gulf clean‑product tanker market remains under pressure. Prompt tonnage continues to outpace available stems, and owners are still offering steep discounts to secure business. While flows into Latin America and the U.S. East Coast persist, they are inadequate to meaningfully absorb the oversupply. Market sentiment remains weak heading toward month‑end.
Crude Tankers – Long‑haul crude routes remain structurally supported, with many VLCCs continuing routing via the Cape of Good Hope. This extended voyage pattern keeps capacity tied up and provides underlying support for rates. However, with new fixture activity still moderate, downside risk remains if cargo volumes fail to increase.
LNG Shipping – In the Atlantic Basin, LNG freight remains tight. Vessel availability is limited, and voyage durations remain elongated due to routing inefficiencies and seasonal constraints. Charterers continue to lock in coverage ahead of Q4, maintaining elevated rate levels.
Overall Outlook – The freight market remains divided: crude and LNG segments are structurally supported by routing constraints and vessel availability, while clean product tanker markets continue to face headwinds from overcapacity and soft demand. Unless there is a notable uptick in export volumes or new cargo programs, clean tanker rates may remain under pressure through the end of the month.
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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