Fuel and Freight Daily Update - 7/30/25

08/01/2025

All pricing reflects end‑of‑day settlements from July 29th, 2025

• WTI (Sept): $69.21 ▲ 2.50

• Brent (Sept): $72.51 ▲ 2.47

• RBOB (Aug): $2.2184 ▲ 0.0832

• ULSD (HO Aug): $2.4638 ▲ 0.0372

• HO/Brent (Sept): $30.35 ▼ 0.56

• RB/Brent (Sept): $18.88 ▲ 0.63

• HO/WTI Crack (Sept): $33.65 ▼ 0.59

Colonial Pipeline Differentials:

• ULSD 62g (C44): -7.00

• Jet Fuel 54g (C45): -25.75

LT (ULSD) CME Blocks:

BALMO: -8.33
Q4 ’25 Avg: -10.39
Q1 ’26 Avg: -8.57
Q2 ’26 Avg: -6.40
Q3 ’26 Avg: -6.30

ME (Jet) CME Blocks:

BALMO: -27.13
Q4 ’25 Avg: -25.75
Q1 ’26 Avg: -20.96
Q2 ’26 Avg: -18.34
Q3 ’26 Avg: -18.96

RIN Futures (Dec ’25)

• D6 (Ethanol): $1.1925 ▼ 0.0005

• D4 (Biodiesel): $1.2550 ▼ 0.0050

• D5 (Advanced): $1.2400 ▼ 0.0100

• D3 (Cellulosic): $2.1800 ▲ 0.0050

Clean Tankers:
Clean tanker supply in the U.S. Gulf remains elevated, but freight rates are steady as steady product flows into Latin America and the East Coast continue to absorb excess tonnage. Shipowners are maintaining risk premiums and buffer days for potential delays, which is helping keep rates from softening further. The balance is still delicate, and any dip in demand or increase in repositioning could pressure rates quickly.

Crude Tankers:
VLCCs continue to bypass the Red Sea and Strait of Hormuz, sticking to the longer Cape of Good Hope route. This extended routing is tying up vessel capacity and maintaining firm freight sentiment on long-haul routes, particularly for Middle East-to-Asia flows. No major routing shifts have been noted, and the market remains supported by ongoing geopolitical risk.

LNG Shipping:
LNG freight rates remain tight as vessel supply continues to lag behind demand. Atlantic basin demand remains steady, and risk-averse routing strategies are stretching voyage durations further. Spot vessel availability is limited, leaving little room to absorb any sudden demand spikes, keeping upward pressure on pricing.

Routing & Geopolitical Conditions:
No material changes in routing patterns today. Tankers across clean, crude, and LNG markets continue to favor the Cape of Good Hope over more direct but riskier routes. This practice is prolonging voyages, tightening available tonnage, and sustaining elevated freight costs.