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- Fuel and Freight Daily Update - 11/7/25
11/07/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from November 6th, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Dec) | $59.43 | ▼ 0.17 |
Brent Final Day (Jan) | $63.38 | ▼ 0.14 |
RBOB (Dec) | $1.9656 | ▲ 0.0563 |
ULSD (Dec) | $2.4961 | ▲ 0.0636 |
Ethanol CU (Nov) | $1.7800 | ▲ 0.0500 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Jan) | $38.96 | ▲ 2.06 |
RB/Brent (Jan) | $16.37 | ▲ 1.69 |
HO/WTI Crack (Dec) | $45.41 | ▲ 2.84 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C64): -9.25
Jet Fuel 54g (C65): -24.00
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $1.0050 | ▼ 0.0080 |
D4 (Biodiesel) | $1.0082 | ▼ 0.0078 |
D5 (Advanced) | $0.9950 | ▼ 0.0025 |
D3 (Cellulosic) | $2.4300 | (FLAT) |
Freight Market Summary
Clean Tankers – The U.S. Gulf clean‑product tanker market remains under pressure. Prompt tonnage continues to exceed available stems, and export flows to Latin America and the East Coast remain steady but insufficient to reduce the oversupply. Owners continue to discount aggressively and sentiment remains soft heading deeper into November.
Crude Tankers – Long‑haul crude freight remains structurally supported. Many VLCCs continue to operate extended routing, keeping capacity tied up and helping maintain a floor under rates. While fixture volume has not surged, the underlying support remains strong unless demand falls further.
LNG Shipping – The Atlantic Basin LNG freight market remains tight. Spot vessel availability is constrained, voyage durations remain extended due to routing inefficiencies and seasonal considerations, and charterers are actively locking in forward cover. Owners maintain pricing power.
Overall Outlook – Freight markets continue to display a clear split: crude and LNG segments remain backed by structural constraints, while clean product tanker markets face persistent headwinds from oversupply and weak demand. Without a meaningful uptick in export programs or fresh cargo flows, clean tanker rates are likely to remain under pressure in 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