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- Fuel and Freight Daily Update - 11/13/25
11/13/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from November 12th, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Dec) | $58.49 | ▼ 2.55 |
Brent Final Day (Jan) | $62.71 | ▼ 2.45 |
RBOB (Dec) | $1.9554 | ▼ 0.0556 |
ULSD (Dec) | $2.4816 | ▼ 0.0941 |
Ethanol CU (Nov) | $1.8350 | ▲ 0.0450 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Jan) | $39.67 | ▼ 1.26 |
RB/Brent (Jan) | $16.60 | (FLAT) |
HO/WTI Crack (Dec) | $45.74 | ▼ 1.40 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C66): -11.75
Jet Fuel 54g (C66): -25.50
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $1.0154 | ▲ 0.0054 |
D4 (Biodiesel) | $1.0200 | ▲ 0.0040 |
D5 (Advanced) | $1.0063 | ▲ 0.0100 |
D3 (Cellulosic) | $2.4400 | ▼ 0.0100 |
Freight Market Summary
Clean Tankers – In the U.S. Gulf clean‑product tanker market, prompt tonnage remains abundant and charterers hold the upper hand. Export flows to Latin America and the U.S. East Coast continue, but are still insufficient to digest the oversupply. Rate ideas are soft and owners remain under pressure to discount.
Crude Tankers – The long‑haul crude segment remains supported by structural constraints: longer voyage routes, avoidance of chokepoints, and tied‑up tonnage. While cargo volumes are not surging, these supply side frictions continue to underpin the rate floor for now.
LNG Shipping – The Atlantic Basin LNG freight market is tight. Vessel availability remains constrained, voyages remain extended due to routing inefficiencies and seasonal demand is building. Owners are maintaining firm offers, and charterers are increasingly locking in cover ahead of winter.
Overall Outlook – The freight market remains bifurcated: the crude and LNG sectors continue to benefit from tonnage tightness and routing inefficiencies, while clean‑product tanker markets remain weighed down by oversupply and weak forward export momentum. Without a meaningful uptick in export programs or cargo flows, clean tanker rates are likely to remain under pressure in the near term.
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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