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- Fuel and Freight Daily Update - 8/28/25
08/28/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from August 27th, 2025
Instrument | Price | Change |
|---|---|---|
WTI Future (Sept) | $64.15 | ▲ 0.90 |
Brent Final Day (Oct) | $68.05 | ▲ 0.83 |
RBOB (Sept) | $2.1489 | ▲ 0.0266 |
ULSD (Sept) | $2.2953 | ▲ 0.0148 |
Ethanol CU (Sept) | $1.795 | ▼ 0.0100 |
Crack Spreads
Spread | Value | Change |
|---|---|---|
HO/Brent (Oct) | $28.30 | ▼ 0.12 |
RB/Brent (Oct) | $14.61 | ▼ 0.26 |
HO/WTI Crack (Oct) | $32.20 | ▼ 0.19 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C50): -7.75
Jet Fuel 54g (C51): -24.00
OPIS RIN Futures
D6 (Ethanol) | $1.0975 | ▼ 0.0050 |
D4 (Biodiesel) | $1.1301 | ▼ 0.0098 |
D5 (Advanced) | $1.1175 | ▼ 0.0100 |
D3 (Cellulosic) | $2.1950 | ▼ 0.0050 |
Freight Market Summary
Clean Tankers - The U.S. Gulf remains oversupplied with clean product tankers. While steady flows into Latin America and the East Coast continue to provide outlets, the long tonnage list is weighing on sentiment. Owners are still adding risk premiums tied to geopolitical uncertainty and potential delays, which has prevented a sharper collapse in rates. Market tone stays soft but stable.
Crude Tankers - VLCCs are sticking with the Cape of Good Hope routing, bypassing the Red Sea and Strait of Hormuz. These longer hauls are keeping capacity tied up and sustaining firmness on Middle East–Asia routes. Market consensus still views the Cape detour as the “default” option, which structurally supports crude freight even in muted demand conditions.
LNG Shipping - LNG freight rates remain firm, supported by Atlantic Basin demand and tight vessel availability. Risk-averse routing and seasonal weather considerations continue to extend voyage times, keeping spot availability low. The market remains sensitive to incremental demand or disruptions, which could trigger quick rate spikes.
Routing & Geopolitics - No major shifts in routing behavior. Clean, crude, and LNG vessels continue to reroute around chokepoints, maintaining longer voyages and reduced effective supply. These structural inefficiencies are reinforcing a pricing floor across freight markets, leaving conditions balanced but vulnerable.
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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