Fuel and Freight Daily Update - 7/17/25

08/01/2025

All pricing reflects end‑of‑day settlements from July 16th, 2025

• WTI (Aug): $66.38 ▼ 0.14

• Brent (Sept): $68.52 ▼ 0.19

• RBOB (Aug): $2.1440 ▲ 0.0256

• ULSD (HO Aug): $2.3915 ▼ 0.0137

• HO/Brent (Sept): $30.90 ▼ 0.28

• RB/Brent (Sept): $19.74 ▼ 0.73

• HO/WTI Crack (Aug): $34.06 ▼ 0.44

Colonial Pipeline Differentials:

• ULSD 62g (C42): -7.85

• Jet Fuel 54g (C43): -22.75

LT (ULSD) CME Blocks:

BALMO: -8.25
Q4 ’25 Avg: -10.25
Q1 ’26 Avg: -8.54
Q2 ’26 Avg: -6.22
Q3 ’26 Avg: -5.84

ME (Jet) CME Blocks:

BALMO: -24.13
Q4 ’25 Avg: -23.50
Q1 ’26 Avg: -20.75
Q2 ’26 Avg: -18.08
Q3 ’26 Avg: -17.92

RIN Futures (Dec ’25)

• D6 (Ethanol): $1.1700 ▲ 0.0125

• D4 (Biodiesel): $1.2320 ▲ 0.0070

• D5 (Advanced): $1.2125 ▲ 0.0025

• D3 (Cellulosic): $2.1750 ▲ 0.0050

Freight Market Summary – 7/17/25

Clean Tankers:
Tanker supply in the U.S. Gulf remains on the heavy side, but consistent export activity toward Latin America and the East Coast continues to provide balance. While spot availability remains ample, shipowners are still building in buffers for risk and delays. That strategy is keeping rate erosion minimal, and the market has held relatively steady even as broader product demand shows signs of softening.

Crude Tankers:
VLCCs are still avoiding the Red Sea and Strait of Hormuz, with most long-haul crude traffic from the Middle East favoring the Cape of Good Hope. These longer voyages continue to absorb global tonnage, maintaining firm rate levels—especially for eastbound flows to Asia. There's no shift yet in routing behavior, and freight sentiment remains stable.

LNG Shipping:
LNG rates remain strong, with limited spot availability and sustained Atlantic basin demand continuing to drive tightness. Most vessels remain committed to conservative routing strategies, which are stretching cycle times and helping support pricing. Any uptick in European or Asian demand could quickly exacerbate the squeeze.

Routing & Geopolitical Snapshot:
The overall routing environment remains unchanged. Hormuz and Suez Canal traffic remains below normal, with rerouting via the Cape of Good Hope now the standard play. This risk-averse approach is leading to longer lead times, higher costs, and limited spot tonnage across both clean and dirty tanker classes.

Enjoyed this article?