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- Fuel and Freight Daily Update - 2/2/26
02/03/2026
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from January 30th, 2026
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Mar) | $65.21 | ▼ 0.21 |
Brent Final Day (Mar) | $70.69 | ▼ 0.02 |
RBOB (Feb) | $1.9228 | ▲ 0.0028 |
ULSD (Feb) | $2.7356 | ▲ 0.1502 |
Ethanol CU (Jan) | $1.5773 | ▼ 0.0020 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Mar) | $35.70 | ▲ 2.09 |
RB/Brent (Mar) | $10.88 | ▲ 0.31 |
HO/WTI Crack (Mar) | $41.18 | ▲ 2.28 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C09): -15.75
Jet Fuel 54g (C09): -8.25
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $1.2375 | ▼ 0.0125 |
D4 (Biodiesel) | $1.3200 | ▼ 0.0140 |
D5 (Advanced) | $1.3090 | ▼ 0.0140 |
D3 (Cellulosic) | $2.3815 | (FLAT) |
Freight Market Summary
Clean-product tanker markets continue to face pressure, particularly in the U.S. Gulf. Prompt tonnage availability remains elevated relative to spot cargo demand, and while inquiry levels are steady, volumes are not sufficient to materially tighten vessel lists. Owners remain competitive on rates to secure early-February stems, keeping sentiment soft.
Crude tanker markets remain steady with underlying structural support. A meaningful portion of VLCC and Suezmax tonnage remains tied up on long-haul or extended voyages, limiting effective supply. While spot demand is not accelerating, these constraints continue to support rate floors across key long-haul routes.
LNG freight remains firm as winter demand persists. Vessel availability remains tight, voyage durations are extended, and charterers continue to secure forward cover. Owners maintain pricing leverage, with limited near-term relief for charterers.
Overall takeaway: Freight markets remain bifurcated. Crude and LNG segments continue to benefit from structural tightness and seasonal demand, while clean-product tanker markets remain challenged by oversupply and modest cargo flow. Directional clarity will depend on whether export programs and industrial demand strengthen as February progresses.
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