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- Fuel and Freight Daily Update - 11/10/25
12/24/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from November 7th, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Dec) | $59.75 | ▲ 0.32 |
Brent Final Day (Jan) | $63.63 | ▲ 0.25 |
RBOB (Dec) | $1.9403 | ▼ 0.0253 |
ULSD (Dec) | $2.4821 | ▼ 0.0140 |
Ethanol CU (Nov) | $1.7600 | ▼ 0.0100 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Jan) | $38.43 | ▼ 0.53 |
RB/Brent (Jan) | $15.57 | ▼ 0.80 |
HO/WTI Crack (Dec) | $44.50 | ▼ 0.91 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C65): -10.00
Jet Fuel 54g (C65): -27.00
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $1.0047 | ▼ 0.0003 |
D4 (Biodiesel) | $1.0075 | ▼ 0.0007 |
D5 (Advanced) | $0.9950 | (FLAT) |
D3 (Cellulosic) | $2.4300 | (FLAT) |
Freight Market Summary
Clean Tankers
The U.S. Gulf remains oversupplied with clean tonnage. Even with modest export demand to Latin America and the U.S. East Coast, vessel availability continues to outpace cargo flow. Owners are showing increasing willingness to fix at discounts, and the forward sentiment remains soft heading into the back half of November.Crude Tankers
Crude freight remains firm as tonnage stays absorbed on long‑haul voyages and high-risk zone avoidance continues. Rates are stable across major routes, supported by inefficiencies and low availability. However, fixture volumes remain somewhat stagnant, and further upside may be limited without a boost in demand or new program activity.LNG Shipping
Atlantic LNG freight rates remain elevated as winter draws in. Spot vessel supply is thin, and charterers are reaching further forward to secure capacity. With loading delays, longer voyages, and sustained seasonal demand, owners continue to hold the upper hand across the Atlantic Basin.Market Outlook
Crude and LNG shipping are holding ground thanks to tight fundamentals and longer voyage dynamics. Clean products, however, are weighed down by a saturated tonnage list and sluggish cargo activity. Without a shift in export pace or refinery-driven volume, clean tanker sentiment is unlikely to recover near term.
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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