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- Fuel and Freight Daily Update - 8/22/25
08/22/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from August 21st, 2025
Instrument | Price | Change |
|---|---|---|
WTI Future (Sept) | $63.52 | ▲ 0.81 |
Brent Final Day (Oct) | $66.67 | ▲ 0.83 |
RBOB (Sept) | $2.1597 | ▲ 0.0314 |
ULSD (Sept) | $2.3251 | ▲ 0.0455 |
Ethanol CU (Sept) | $1.815 | ▲ 0.0350 |
Crack Spreads
Spread | Value | Change |
|---|---|---|
HO/Brent (Sept) | $29.76 | ▲ 1.13 |
RB/Brent (Sept) | $15.79 | ▲ 0.35 |
HO/WTI Crack (Sept) | $33.91 | ▲ 1.15 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C49): -6.80
Jet Fuel 54g (C50): -23.75
OPIS RIN Futures
D6 (Ethanol) | $1.0600 | ▲ 0.0500 |
D4 (Biodiesel) | $1.1300 | ▲ 0.0575 |
D5 (Advanced) | $1.1025 | ▲ 0.0075 |
D3 (Cellulosic) | $2.1850 | ▲ 0.0100 |
Freight Market Summary
Clean Tankers – Tonnage in the U.S. Gulf remains long, keeping market sentiment soft. Steady export demand into Latin America and the East Coast is providing some relief, but the oversupply picture continues to weigh on owners. Risk premiums linked to geopolitics are still embedded in freight, cushioning rates from a sharper slide.
Crude Tankers – VLCCs continue routing via the Cape of Good Hope rather than through the Red Sea or Hormuz. The extended haul is absorbing global capacity, leaving long-haul Middle East–Asia freight rates supported despite lackluster demand signals. Market consensus holds firm that the Cape remains the default routing strategy.
LNG Shipping – Spot LNG rates remain buoyed by limited vessel availability and ongoing Atlantic demand. Risk-averse routing and seasonal weather risk continue to stretch voyage times, keeping tonnage tight and maintaining firm pricing.
Routing & Geopolitics – Freight markets remain defined by detours and longer voyages. This structural inefficiency keeps vessel supply constrained, sustaining a supportive floor under rates. Any fresh demand surge would tighten balances quickly, leaving the market vulnerable to volatility.
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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