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- Fuel and Freight Daily Update - 8/21/25
08/23/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from August 20th, 2025
Instrument | Price | Change |
|---|---|---|
WTI Future (Sept) | $62.21 | ▲ 0.86 |
Brent Final Day (Oct) | $66.84 | ▲ 1.05 |
RBOB (Sept) | $2.1283 | ▲ 0.0393 |
ULSD (Sept) | $2.2796 | ▲ 0.0285 |
Ethanol CU (Sept) | $1.78 | ▲ 0.05 |
Crack Spreads
Spread | Value | Change |
|---|---|---|
HO/Brent (Sept) | $28.914 | ▼ 0.035 |
RB/Brent (Sept) | $15.44 | ▲ 0.48 |
HO/WTI Crack (Sept) | $32.76 | ▲ 0.30 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C49): -6.80
Jet Fuel 54g (C50): -23.00
OPIS RIN Futures
D6 (Ethanol) | $1.0100 | ▼ 0.0570 |
D4 (Biodiesel) | $1.0725 | ▼ 0.0570 |
D5 (Advanced) | $1.0950 | ▼ 0.0300 |
D3 (Cellulosic) | $2.1750 | ▼ 0.0300 |
Freight Market Summary
Clean Tankers – The U.S. Gulf remains long on available ships, with owners still under pressure to find employment. Latin American demand provides some support, but overall sentiment stays soft. Risk premiums tied to geopolitics remain in play, preventing an outright collapse in rates.
Crude Tankers – VLCC flows continue to take the Cape route, keeping effective capacity tight and voyage lengths extended. This inefficiency sustains firmness on Middle East–Asia runs despite muted demand signals. Market consensus holds that the Cape routing is still the "new normal."
LNG Shipping – The Atlantic Basin remains active, with spot rates well-supported by limited vessel availability. Weather risks and prolonged voyages continue to underpin the market, keeping sentiment bullish.
Routing & Geopolitics – Detours and longer hauls remain a defining theme across freight, soaking up tonnage and providing structural support. Any incremental demand shift could quickly tighten conditions further, keeping market balance fragile.
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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