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- Fuel and Freight Daily Update - 7/23/25
08/01/2025
All pricing reflects end‑of‑day settlements from July 22nd, 2025
Futures Market Settles
WTI (Aug): $66.21 ▼ 0.99
Brent (Sept): $68.59 ▼ 0.62
RBOB (Aug): $2.1019 ▼ 0.0300
ULSD (HO Aug): $2.4518 ▼ 0.0574
Key Spreads & Cracks
HO/Brent (Sept): $33.09 ▼ 1.69
RB/Brent (Sept): $18.32 ▼ 0.48
HO/WTI Crack (Aug): $36.77 ▼ 1.42
ULSD & Jet Physical Market Settles (LT & ME Contracts)
Colonial Pipeline Differentials:
ULSD 62g (C43): -5.05
Jet Fuel 54g (C43): -22.50
LT (ULSD) CME Blocks:
BALMO: -7.80
Q4 ’25 Avg: -10.62
Q1 ’26 Avg: -8.96
Q2 ’26 Avg: -6.83
Q3 ’26 Avg: -6.86
ME (Jet) CME Blocks:
BALMO: -24.13
Q4 ’25 Avg: -25.04
Q1 ’26 Avg: -20.88
Q2 ’26 Avg: -18.08
Q3 ’26 Avg: -17.92
RIN Futures
RIN Futures (Dec ’25)
D6 (Ethanol): $1.1850 ▲ 0.0050
D4 (Biodiesel): $1.2469 ▲ 0.0119
D5 (Advanced): $1.2338 ▲ 0.0138
D3 (Cellulosic): $2.1800 ▼ 0.0050
Freight Market Summary
Clean Tankers:
Clean tanker supply remains heavy in the U.S. Gulf, but freight rates are holding steady for now. Regular product flows into Latin America and the East Coast continue to provide support. Shipowners are maintaining delay buffers and risk premiums in voyage planning, which is keeping the market from slipping—though sentiment could shift quickly if demand pulls back or repositioning delays ease.
Crude Tankers:
VLCCs remain committed to avoiding the Red Sea and Strait of Hormuz, routing instead around the Cape of Good Hope. These longer voyages continue to tighten global availability and provide underlying support to long-haul freight rates. Flows from the Middle East to Asia are stable, and the lack of routing change suggests the market will stay firm near term.
LNG Shipping:
LNG rates are holding firm as spot tonnage remains limited. Ongoing Atlantic demand, coupled with risk-averse routing strategies, is stretching voyage durations and maintaining a tight freight environment. With no major weather disruptions and steady demand, there’s little sign of softening in the near term.
Routing & Geopolitical Conditions:
No change in major routing patterns. The Cape of Good Hope remains the preferred path for tankers across clean, dirty, and LNG markets. Geopolitical concerns continue to keep the Suez and Hormuz underutilized, sustaining elevated voyage times and tighter tonnage availability globally.
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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