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- Fuel and Freight Daily Update - 11/6/25
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11/06/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from November 5th, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Dec) | $59.60 | ▼ 0.96 |
Brent Final Day (Jan) | $63.52 | ▼ 0.93 |
RBOB (Dec) | $1.9093 | ▼ 0.0135 |
ULSD (Dec) | $2.4325 | ▼ 0.0121 |
Ethanol CU (Nov) | $1.7550 | ▲ 0.0300 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Jan) | $36.90 | ▲ 0.23 |
RB/Brent (Jan) | $14.69 | ▲ 0.20 |
HO/WTI Crack (Dec) | $42.57 | ▲ 0.45 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C64): -10.30
Jet Fuel 54g (C65): -19.75
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $1.0130 | ▲ 0.0120 |
D4 (Biodiesel) | $1.0160 | ▲ 0.0086 |
D5 (Advanced) | $0.9975 | (FLAT) |
D3 (Cellulosic) | $2.4300 | ▲ 0.0300 |
Freight Market Summary
Clean Tankers
The U.S. Gulf clean product tanker market remains soft. Despite steady flows to Latin America and the East Coast, available tonnage continues to outpace demand. Owners are aggressively discounting to secure cargoes, and sentiment remains bearish heading into mid-November.Crude Tankers
Crude freight continues to find support from structural inefficiencies. Tonnage remains tied up on longer routes as vessels avoid high-risk zones and opt for extended passages, helping maintain a floor under rates. Fixture activity is steady but not spectacular, and gains are capped unless demand improves.LNG Shipping
The LNG freight market in the Atlantic Basin is tight. Vessel supply is constrained, voyage durations are extended, and winter demand continues to build. Spot rates are firm, with owners holding the advantage and charterers actively seeking forward cover.Overall Outlook
Freight remains a split market: crude and LNG sectors benefit from tight supply and inefficient routing, while clean products face ongoing pressure from oversupply and soft demand. Without a notable rise in export volumes or fresh cargo programs, clean tanker rates are likely to stay under pressure through 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
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