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- Fuel and Freight Daily Update - 11/25/25
12/20/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from November 24th, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Jan) | $58.84 | ▲ 0.78 |
Brent Final Day (Jan) | $63.37 | ▲ 0.81 |
RBOB (Dec) | $1.8966 | ▲ 0.0132 |
ULSD (Dec) | $2.4061 | ▼ 0.0503 |
Ethanol CU (Nov) | $1.8375 | ▲ 0.0250 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Jan) | $35.91 | ▼ 2.08 |
RB/Brent (Jan) | $13.31 | ▼ 0.32 |
HO/WTI Crack (Dec) | $40.44 | ▼ 2.05 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C68): -9.25
Jet Fuel 54g (C68): -17.50
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $1.0275 | ▲ 0.0025 |
D4 (Biodiesel) | $1.0350 | ▲ 0.0050 |
D5 (Advanced) | $1.0275 | ▲ 0.0050 |
D3 (Cellulosic) | $2.4600 | ▼ 0.0075 |
Freight Market Summary
Clean Tankers – In the U.S. Gulf clean‑product tanker market, the oversupply trend persists. Although export flows to Latin America and the U.S. East Coast remain active, available prompt tonnage continues to exceed demand. Owners are offering competitive terms to secure stems, and sentiment remains subdued heading into year‑end.
Crude Tankers – The long‑haul crude freight segment remains on sturdy footing. Sanctions‑driven rerouting and extended voyages are keeping key vessels tied up, supporting tight tonnage availability and underpinning rate floors. While cargo volumes are not surging, structural support remains solid.
LNG Shipping – The Atlantic Basin LNG freight market continues to tighten. Spot vessel availability is limited, voyage times are extended by routing and seasonal constraints, and charterers are locking in forward cover. Owners maintain pricing leverage as winter demand builds.
Overall Outlook – The freight market remains clearly divided: crude and LNG sectors continue to benefit from structural tightness, while clean product tanker markets remain under pressure from oversupply and muted demand. Until export volumes increase or tonnage availability shifts, clean tanker rates will likely stay challenged heading into December.
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