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- Fuel and Freight Daily Update - 6/18/25
08/02/2025
All pricing reflects end-of-day settlements from June 17, 2025
Published by Liquidity Energy LLC
Futures Market Settles
Front Month Settlements:
WTI (Jul): $74.84 ▲ $3.07
Brent (Aug): $76.45 ▲ $3.22
RBOB (Jul): $2.2719 ▲ 5.20¢
ULSD (HO Jul): $2.5051 ▲ 11.18¢
Key Spreads & Cracks
Key Spreads & Cracks
HO/Brent (Aug): $27.34 ▲ 0.88
RB/Brent (Aug): $18.41 ▼ 1.02
HO/WTI Crack (Jul): $30.37 ▲ 1.63
HOGO (July Futures): +15.25¢ ▼ 0.45¢
HOGO Swaps
HOGO Swaps
July '25: +15.00¢ ▼ 1.10¢
August '25: +16.90¢ ▼ 0.45¢
Q3 '25: +16.40¢ ▼ 0.60¢
Q4 '25: +18.70¢ ▲ 0.15¢
ULSD & Jet Physical Market Settles (LT & ME Contracts)
Colonial Pipeline Differentials:
ULSD 62g (C30): -7.45¢
Jet Fuel 54g (C31): -18.00¢
LT (ULSD) CME Blocks:
BALMO: -7.45¢
Q3 ’25 Avg: -7.25¢
Q4 ’25 Avg: -10.24¢
ME (Jet) CME Blocks:
BALMO: -18.00¢
Q3 ’25 Avg: -18.00¢
Q4 ’25 Avg: -21.04¢
RIN Futures
December 2025 Settlements
D6 (Ethanol): $1.1225 ▼ 8.75¢
D4 (Biodiesel): $1.2075 ▼ 9.25¢
D5 (Advanced): $1.1250 ▲ 2.50¢
D3 (Cellulosic): $2.3450 ▼ 5.50¢
Freight Market Summary
Clean Tankers:
Gulf Coast clean tanker space remains ample, though rising product cracks spurred fresh interest in prompt movements. Charterers remain selective as the market digests recent price spikes.
Crude Tankers:
Higher flat prices drove inquiry levels up, but fixtures were limited as charterers assess sustainability of price gains. Eastbound bookings from USGC stayed light.
Pipeline & Terminals:
Colonial differentials widened modestly amid the product rally. Line space remains allocated through month-end with no major disruptions reported.
LNG Shipping:
Spot charter rates edged higher, driven by European buying interest and continued tightness in Atlantic Basin capacity for July loading.
Market Signals to Watch
The Iranian military escalation near key shipping lanes raised market anxiety today, supporting crude and refined product futures. While no major disruptions to physical flows have been confirmed, traders are watching Gulf export routes closely amid the heightened risk environment.
Product cracks widened as refiners chase margins on tighter distillate inventories.
RIN volatility continued, reflecting shifting compliance demand and broader market uncertainty.
HOGO swaps were mixed, with some length building in outer months despite front-end weakness.
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Disclaimer
The Coolidge Report is published by Coolidge Shop LLC and is intended for informational purposes only. This report does not constitute trading recommendations, financial advice, or an offer to buy or sell any commodity. While efforts are made to ensure accuracy, Coolidge Shop LLC makes no warranties regarding completeness or reliability. Coolidge Shop LLC is not registered as a Commodity Trading Advisor (CTA) with the CFTC, and this report should not be interpreted as a solicitation to engage in futures or derivatives trading.
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