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- Fuel and Freight Daily Update - 7/18/25
08/01/2025
All pricing reflects end‑of‑day settlements from July 17th, 2025
Futures Market Settles
WTI (Aug): $67.54 ▲ 1.16
Brent (Sept): $69.52 ▲ 1.00
RBOB (Aug): $2.1704 ▲ 0.0264
ULSD (HO Aug): $2.4646 ▲ 0.0731
Key Spreads & Cracks
HO/Brent (Sept): $32.74 ▲ 1.84
RB/Brent (Sept): $19.90 ▲ 0.16
HO/WTI Crack (Aug): $35.97 ▲ 1.91
ULSD & Jet Physical Market Settles (LT & ME Contracts)
Colonial Pipeline Differentials:
ULSD 62g (C42): -7.15
Jet Fuel 54g (C43): -19.75
LT (ULSD) CME Blocks:
BALMO: -8.25
Q4 ’25 Avg: -10.39
Q1 ’26 Avg: -8.60
Q2 ’26 Avg: -6.50
Q3 ’26 Avg: -6.32
ME (Jet) CME Blocks:
BALMO: -24.13
Q4 ’25 Avg: -23.25
Q1 ’26 Avg: -20.75
Q2 ’26 Avg: -18.08
Q3 ’26 Avg: -17.92
RIN Futures
RIN Futures (Dec ’25)
D6 (Ethanol): $1.1850 ▲ 0.0150
D4 (Biodiesel): $1.2490 ▲ 0.0170
D5 (Advanced): $1.2375 ▲ 0.0250
D3 (Cellulosic): $2.1700 ▼ 0.0050
Freight Market Summary
Clean Tankers:
Clean tanker supply remains elevated in the U.S. Gulf, but steady product flows into Latin America and the East Coast continue to lend support. There’s still no meaningful drop in rates, largely because shipowners are baking in extra time for delays and rerouting as standard. Market balance is fragile—any disruption in cargo volumes or vessel repositioning could quickly shift sentiment.
Crude Tankers:
VLCCs continue to avoid the Red Sea and Strait of Hormuz, sticking with longer routes around the Cape of Good Hope. These extended voyages are absorbing global tonnage and helping support rate stability on long-haul routes, especially for Middle East-to-Asia traffic. Freight sentiment remains firm, even with limited changes in routing trends.
LNG Shipping:
LNG rates remain strong as spot vessel availability stays tight. Ongoing Atlantic demand and longer cycle times—thanks to risk-averse routing—are helping maintain upward pressure. There's little room in the system for surprise demand spikes, which keeps the market tight and pricing supported.
Routing & Geopolitical Conditions:
No major changes. The Cape of Good Hope continues to be the go-to route for many tankers, bypassing traditional chokepoints like the Suez Canal and Strait of Hormuz. This cautious routing remains a major factor tightening vessel availability and driving up costs across the freight spectrum.
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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