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- Fuel and Freight Daily Update - 8/20/25
08/23/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from August 19th, 2025
Instrument | Price | Change |
|---|---|---|
WTI Future (Sept) | $62.35 | ▼ 1.07 |
Brent Final Day (Oct) | $65.79 | ▼ 0.81 |
RBOB (Sept) | $2.089 | ▼ 0.0097 |
ULSD (Sept) | $2.2511 | ▲ 0.0108 |
Ethanol CU (Sept) | $1.73 | ▼ 0.03 |
Crack Spreads
Spread | Value | Change |
|---|---|---|
HO/Brent (Sept) | $28.949 | ▲ 0.981 |
RB/Brent (Sept) | $15.471 | ▲ 0.111 |
HO/WTI Crack (Sept) | $32.20 | ▲ 1.53 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C48): -6.75
Jet Fuel 54g (C48): -23.15
OPIS RIN Futures
D6 (Ethanol) | $1.0670 | ▼ 0.0280 |
D4 (Biodiesel) | $1.1295 | ▼ 0.0304 |
D5 (Advanced) | $1.1250 | ▼ 0.0300 |
D3 (Cellulosic) | $2.2050 | ▼ 0.0050 |
Freight Market Summary
Clean Tankers - The U.S. Gulf remains awash in available tonnage, keeping sentiment soft. However, steady Latin American and East Coast pull is preventing an outright rate collapse. Risk premiums tied to geopolitical uncertainty continue to provide a floor, leaving the market stable but vulnerable.
Crude Tankers - VLCCs continue rerouting via the Cape of Good Hope, extending voyage times and tightening effective capacity. This structural inefficiency is keeping Middle East–Asia rates firm despite muted global demand signals. Traders still treat the longer Cape route as the “new normal.”
LNG Shipping - Atlantic Basin LNG activity remains robust, with limited vessel availability supporting elevated spot rates. Extended voyages and ongoing weather risks are reinforcing a strong floor, leaving freight sentiment firmly underpinned.
Routing & Geopolitics - Longer routes and detours around higher-risk regions remain the defining theme. Extended voyage lengths continue to absorb global tonnage, keeping structural support under rates. Any incremental demand could quickly flip the balance toward firmer pricing.
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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