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- Fuel and Freight Daily Update - 7/2/25
08/01/2025
All pricing reflects end‑of‑day settlements from July 24th, 2025
Futures Market Settles
WTI (Sept): $66.03 ▲ 0.32
Brent (Sept): $69.18 ▲ 0.30
RBOB (Aug): $2.1042 ▲ 0.0023
ULSD (HO Aug): $2.4129 ▲ 0.0184
Key Spreads & Cracks
HO/Brent (Sept): $31.99 ▲ 0.74
RB/Brent (Sept): $17.89 ▼ 0.25
HO/WTI Crack (Sept): $34.30 ▲ 0.61
ULSD & Jet Physical Market Settles (LT & ME Contracts)
Colonial Pipeline Differentials:
ULSD 62g (C43): -5.75
Jet Fuel 54g (C43): -24.75
LT (ULSD) CME Blocks:
BALMO: -7.80
Q4 ’25 Avg: -10.65
Q1 ’26 Avg: -8.64
Q2 ’26 Avg: -6.13
Q3 ’26 Avg: -5.86
ME (Jet) CME Blocks:
BALMO: -24.13
Q4 ’25 Avg: -25.63
Q1 ’26 Avg: -20.96
Q2 ’26 Avg: -18.34
Q3 ’26 Avg: -18.96
RIN Futures
RIN Futures (Dec ’25)
D6 (Ethanol): $1.2100 ▲ 0.0150
D4 (Biodiesel): $1.2765 ▲ 0.0175
D5 (Advanced): $1.2550 ▲ 0.0195
D3 (Cellulosic): $2.1800 ▼ 0.0200
Freight Market Summary
Clean Tankers:
Tonnage remains long in the U.S. Gulf, but consistent demand from Latin America and the East Coast is helping stabilize rates. Shipowners continue to factor in extra days for delays and routing risks, which is keeping pressure off the downside. Still, if we see any slowdown in exports or a shift in vessel positioning, things could turn quickly.
Crude Tankers:
VLCCs are still routing around the Cape of Good Hope to avoid geopolitical hotspots like the Red Sea and Strait of Hormuz. That longer haul continues to absorb global capacity and support long-haul rates, especially for Middle East-to-Asia cargoes. No changes in routing trends today.
LNG Shipping:
LNG freight remains tight. Atlantic basin demand is steady, and the cautious routing patterns continue to stretch vessel availability. With little slack in the system, rates are holding strong and the market remains sensitive to any sudden demand shifts or weather events.
Routing & Geopolitical:
No major routing changes. The Cape of Good Hope remains the preferred path for clean, crude, and LNG segments, extending voyage times and limiting vessel availability. The freight environment stays firm heading into the weekend.
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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