Fuel and Freight Daily Update - 7/7/25

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08/02/2025

All pricing reflects end‑of‑day settlements from July 3rd, 2025

• WTI (Aug): $67.00 ▼ 0.45

• Brent (Sept): $68.80 ▼ 0.31

• RBOB (Aug): $2.1186 ▼ 0.0043

• ULSD (HO Aug): $2.3698 ▼ 0.0419

• HO/Brent (Sept): $29.11 ▼ 0.93

• RB/Brent (Sept): $18.95 ▲ 0.20

• HO/WTI Crack (Aug): $32.53 ▼ 1.31

• HOGO (Aug Futures): +16.85 ▼ 0.0260

• Aug '25: +15.80

• Sep '25: +16.40

• Q4 '25: +17.75

• Q1 '26: +17.35

• Q2 '26: +14.45

Colonial Pipeline Differentials:

• ULSD 62g (C39): -5.50

• Jet Fuel 54g (C40): -26.75

LT (ULSD) CME Blocks:

BALMO: -7.55
Q4 ’25 Avg: -10.34
Q1 ’26 Avg: -8.56
Q2 ’26 Avg: -6.23
Q3 ’26 Avg: -5.80

ME (Jet) CME Blocks:

BALMO: -23.63
Q4 ’25 Avg: -22.42
Q1 ’26 Avg: -20.00
Q2 ’26 Avg: -17.29
Q3 ’26 Avg: -17.50

RIN Futures (Dec ’25)

• D6 (Ethanol): $1.1060 ▼ 0.0215

• D4 (Biodiesel): $1.1955 ▼ 0.0190

• D5 (Advanced): $1.1875 ▼ 0.0025

• D3 (Cellulosic): $2.1200 (flat)

Clean Tankers: Gulf Coast remains oversupplied, but steady demand to Latin America and the East Coast is gradually absorbing capacity. Shippers are now pricing in voyage delays and regional risk as the new expected standard.

Crude Tankers: VLCCs continue to bypass the Strait of Hormuz and Red Sea, opting for the Cape of Good Hope route. These rerouted longer voyages are tightening available tonnage on major trade lanes, keeping crude freight rates firm.

LNG Shipping: Atlantic LNG charter rates remain elevated due to tight supply and ongoing rerouting away from high-risk zones. Schedules are stretched, and operators are incorporating safety buffers into planning.

Geopolitical & Logistics Watch

• Strait of Hormuz: Traffic still subdued (~25–30% below typical June levels), with cautious maneuvering and some vessels idling or choosing alternate paths.

• Red Sea / Suez Canal: Most vessels are still steering clear of the Suez, favoring the Cape route. Insurance premiums and route delays have become standard, not exceptions.

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