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- Fuel and Freight Daily Update - 6/24/25
08/01/2025
All pricing reflects end‑of‑day settlements from June 23, 2025
Futures Market Settles
Front‑Month Settlements:
WTI (Aug): $68.51 ▼ $5.33
Brent (Aug): $71.48 ▼ $5.53
RBOB (Jul): $2.2182 ▼ 11.13¢
ULSD (HO Jul): $2.3631 ▼ 17.87¢
Key Spreads & Cracks
HO/Brent (Aug): $26.72 ▼ $1.42
RB/Brent (Aug): $20.88 ▲ $0.85
HO/WTI Crack (Jul): $29.69 ▼ $1.62
HOGO (July Futures): +14.60¢ ▲ 1.10¢
HOGO Swaps
July '25: +14.60¢ ▲ 1.10¢
Aug '25: +15.85¢ ▲ 0.10¢
Q3 '25: +15.60¢ ▲ 0.35¢
Q4 '25: +17.25¢ ▼ 0.70¢
Q1 '26: +16.25¢ ▼ 0.65¢
Q2 '26: +13.50¢ ▼ 0.10¢
ULSD & Jet Physical Market Settles (LT & ME Contracts)
Colonial Pipeline Differentials:
ULSD 62g (C37): -7.18¢
Jet Fuel 54g (C38): -18.50¢
LT (ULSD) CME Blocks:
BALMO: -7.18¢
Q3 ’25 Avg: -7.10¢
Q4 ’25 Avg: -10.21¢
Q1 ’26 Avg: -8.38¢
ME (Jet) CME Blocks:
BALMO: -18.50¢
Q3 ’25 Avg: -18.00¢
Q4 ’25 Avg: -21.59¢
RIN Futures
Dec 25 RINs Futures
D6 (Ethanol): $1.0700 ▼ 1.75¢
D4 (Biodiesel): $1.1550 ▼ 1.49¢
D5 (Advanced): $1.1225 ▼ 4.50¢
D3 (Cellulosic): $2.2050 ▼ 4.50¢
Freight Market Summary
Clean Tankers: USGC tonnage overhang remains; Latin and East Coast demand steady.
Crude Tankers: VLCCs rerouting around Cape; Red Sea/Suez passage avoided; rates elevated.
Pipeline & Terminals: Colonial line space still allocated; differentials stable.
LNG Shipping: Charter rates up on Atlantic tightness; Red Sea bypass adds to delays.
Market Signals to Watch
Geopolitical & Logistical Impact
Strait of Hormuz: Tankers zig-zag, halt, or reroute; Hormuz throughput reportedly down 25%-30%.
Suez: Red Sea traffic sparse as operators favor Cape of Good Hope. Insurers lifting premiums further.
Market dynamics: Supply chain disruptions feeding into freight costs; traders monitoring Iran's next moves.
Crude spreads: Brent-WTI wide but volatile.
Impact on clean and dirty freight rates from Middle East tensions.
Inventory draws in key hubs linked to shipping disruptions.
Watch Cape route congestion as Suez avoidance persists.
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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.
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