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- Fuel and Freight Daily Update - 10/29/25
11/05/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from October 28th, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Dec) | $60.15 | ▼ 1.16 |
Brent Final Day (Dec) | $64.40 | ▼ 1.22 |
RBOB (Nov) | $1.9252 | ▲ 0.0048 |
ULSD (Nov) | $2.3872 | ▲ 0.0489 |
Ethanol CU (Oct) | $1.8350 | ▼ 0.0500 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Dec) | $34.86 | ▲ 0.74 |
RB/Brent (Dec) | $13.86 | ▲ 1.11 |
HO/WTI Crack (Dec) | $39.11 | ▼ 0.80 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C62): -7.40
Jet Fuel 54g (C63): -14.75
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $1.0100 | (FLAT) |
D4 (Biodiesel) | $1.0200 | ▲ 0.0024 |
D5 (Advanced) | $1.0100 | ▲ 0.0100 |
D3 (Cellulosic) | $2.4000 | ▲ 0.0100 |
Freight Market Summary
Clean Tankers – The U.S. Gulf clean‑product tanker market remains under strain. Prompt tonnage continues to outpace available stems, and while export flows to Latin America and the U.S. East Coast persist, demand is still insufficient to absorb the oversupply. Owners continue adjusting offers down, and overall sentiment remains weak heading into early November.
Crude Tankers – Long‑haul crude routes continue to benefit from structural tailwinds. Many VLCCs retain the route via the Cape of Good Hope, tying up capacity and helping support the rate floor. However, fixture activity remains modest and demand signals are soft — leaving the segment vulnerable if cargo volumes decline.
LNG Shipping – The Atlantic Basin LNG freight market remains tight. Spot vessel availability is limited, and extended routing due to seasonal constraints and risk‑averse chartering continues to stretch voyage durations. Owners maintain leverage; downside risk remains limited unless chartering sharply slows.
Overall Outlook – The freight market continues to display a clear bifurcation: crude and LNG freight markets remain supported by structural constraints, while clean tanker markets continue to face headwinds from overcapacity and muted demand. Without a meaningful uptick in export programs or fresh cargo flows, clean product rates may remain under pressure into early November.
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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