Fuel and Freight Daily Update - 11/17/25

Liquidity Energy, LLC

In partnership with

11/17/2025

Futures Market Settles (Front Month)

All prices reflect end-of-day settlements from November 14th, 2025

Instrument

Settlement

Change

WTI Future (Dec)

$60.09

▲ 1.40

Brent Final Day (Jan)

$64.39

▲ 1.38

RBOB (Dec)

$2.0116

▲ 0.0519

ULSD (Dec)

$2.5311

▲ 0.0464

Ethanol CU (Nov)

$1.8400

▲ 0.0050

Spread

Value

Change

HO/Brent (Jan)

$38.97

▲ 1.25

RB/Brent (Jan)

$16.80

▼ 0.26

HO/WTI Crack (Dec)

$46.22

▲ 1.39

ULSD & Jet Physical Market Settles

Colonial Pipeline Differentials (USGC):

  • ULSD 62g (C66): -12.25

  • Jet Fuel 54g (C67): -25.00

OPIS RIN Futures

Type

Price

Change

D6 (Ethanol)

$1.0025

▼ 0.0115

D4 (Biodiesel)

$1.0075

▼ 0.0125

D5 (Advanced)

$0.9950

▼ 0.0050

D3 (Cellulosic)

$2.4450

▲ 0.0150

Freight Market Summary

  • Clean Tankers – The U.S. Gulf clean‑products tanker market remains pressured by excess availability. Despite steady export flows to Latin America and the U.S. East Coast, vessel supply continues to outpace demand. Owners are showing increased flexibility in pricing to secure cargoes, and forward sentiment remains soft as we approach the end of the month.

  • Crude Tankers – The long‑haul crude sector continues to benefit from structural support. Tonnage remains tied up on extended voyages and longer routings (counter‑risk zones), helping maintain rate floors. Although fixture activity is moderate, the fundamentals remain relatively firm.

  • LNG Shipping – The Atlantic Basin LNG freight market stays tight. Spot vessel availability is limited, voyage durations are prolonged by routing constraints and seasonal demand, and charterers are seeking early coverage. Owners keep pricing firm, with little relief in sight for charterers.

  • Overall Outlook – The split in the freight market remains pronounced: crude and LNG freight continue to be underpinned by structural issues and tight supply, while clean‑product tanker markets continue to struggle under an oversupplied list and soft export demand. Without a meaningful shift in cargo flows or new programmes, the clean tanker segment is likely to remain under pressure into the 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