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- Fuel and Freight Daily Update - 7/24/25
08/01/2025
All pricing reflects end‑of‑day settlements from July 23rd, 2025
Futures Market Settles
WTI (Aug): $66.21 (FLAT)
Brent (Sept): $68.51 ▼ 0.08
RBOB (Aug): $2.1213 ▼ 0.0194
ULSD (HO Aug): $2.4490 ▼ 0.0028
Key Spreads & Cracks
HO/Brent (Sept): $33.25 ▲ 0.16
RB/Brent (Sept): $19.19 ▲ 0.87
HO/WTI Crack (Aug): $36.65 ▼ 0.12
ULSD & Jet Physical Market Settles (LT & ME Contracts)
Colonial Pipeline Differentials:
ULSD 62g (C43): -5.50
Jet Fuel 54g (C43): -26.00
LT (ULSD) CME Blocks:
BALMO: -7.80
Q4 ’25 Avg: -10.69
Q1 ’26 Avg: -8.73
Q2 ’26 Avg: -6.50
Q3 ’26 Avg: -6.48
ME (Jet) CME Blocks:
BALMO: -24.13
Q4 ’25 Avg: -25.46
Q1 ’26 Avg: -20.96
Q2 ’26 Avg: -18.08
Q3 ’26 Avg: -17.92
RIN Futures
RIN Futures (Dec ’25)
D6 (Ethanol): $1.1950 ▲ 0.0100
D4 (Biodiesel): $1.2590 ▲ 0.0121
D5 (Advanced): $1.2355 ▲ 0.0017
D3 (Cellulosic): $2.2000 ▲ 0.0200
Freight Market Summary
Clean Tankers:
Tanker supply in the U.S. Gulf is still heavy, but the market continues to find support from consistent product flows into Latin America and along the East Coast. Shipowners are staying cautious, maintaining rerouting buffers in case of delays, which is keeping rate pressure limited. There’s no major change in sentiment today, but if demand slips or more vessels reposition quickly, rates could weaken fast.
Crude Tankers:
VLCCs are holding to their longer Cape of Good Hope routing, keeping global tonnage availability in check. This extended path remains the go-to amid ongoing avoidance of the Red Sea and Strait of Hormuz. Freight rates remain firm for long-haul flows, especially for Middle East-to-Asia movements, with no new routing shifts reported.
LNG Shipping:
LNG freight remains tight. Spot vessel availability continues to lag behind demand, particularly in the Atlantic basin. Conservative routing strategies are further stretching trip durations, which is helping keep rates elevated. There’s little room for unexpected demand spikes, and the market remains sensitive to weather or geopolitical surprises.
Routing & Geopolitical Conditions:
No changes in the routing picture today. Tankers across clean, crude, and LNG markets continue to favor the Cape of Good Hope, bypassing Suez and Hormuz. This longer routing remains a key driver of limited tonnage availability and elevated costs.
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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