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- Fuel and Freight Daily Update - 7/31/25
08/01/2025
All pricing reflects end‑of‑day settlements from July 30th, 2025
Futures Market Settles
WTI (Sept): $70.00 ▲ 0.79
Brent (Sept): $73.24 ▲ 0.73
RBOB (Aug): $2.2691 ▲ 0.0507
ULSD (HO Aug): $2.4185 ▼ 0.0453
Ethanol (CU Aug): $1.7425 ▲ 0.0025
Key Spreads & Cracks
HO/Brent (Sept): $28.01 ▼ 2.35
RB/Brent (Sept): $19.25 ▲ 0.37
HO/WTI Crack (Sept): $31.25 ▼ 2.41
ULSD & Jet Physical Market Settles (LT & ME Contracts)
Colonial Pipeline Differentials:
ULSD 62g (C45): -7.25
Jet Fuel 54g (C46): -25.00
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: -25.88
Q1 ’26 Avg: -21.83
Q2 ’26 Avg: -18.71
Q3 ’26 Avg: -19.17
RIN Futures
RIN Futures (Dec ’25)
D6 (Ethanol): $1.1775 ▼ 0.0150
D4 (Biodiesel): $1.2400 ▼ 0.0150
D5 (Advanced): $1.2375 ▼ 0.0025
D3 (Cellulosic): $2.1800 (flat)
Freight Market Summary
Clean Tankers
The U.S. Gulf remains oversupplied with clean tankers, but consistent export flows to Latin America and the East Coast are continuing to cushion rates. Vessel operators remain cautious, building in extra time for rerouting and delays. Despite the heavy vessel count, freight rates remain stable—for now. But any dip in demand or faster repositioning could trigger downward pressure.
Crude Tankers
VLCCs are still bypassing high-risk areas like the Red Sea and Strait of Hormuz via the Cape of Good Hope route. These longer voyages continue to soak up capacity and maintain firm long-haul freight rates—especially for flows from the Middle East to Asia. There’s no sign of routing behavior changing anytime soon, and sentiment remains supported.
LNG Shipping
LNG freight rates remain firm, driven by tight vessel availability and continued demand in the Atlantic basin. Risk-averse routing and longer trip durations are keeping spot supply constrained. With limited slack in the system, pricing is holding firm, and the market remains sensitive to any sharp demand shifts or disruptions.
Routing & Geopolitical Conditions
No notable change in routing today: the Cape of Good Hope remains the preferred conservatory route across clean, crude, and LNG segments. This sustained avoidance of key chokepoints is keeping voyages longer, costs higher, and freight availability tighter.
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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