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- Fuel and Freight Daily Update - 9/11/25
09/11/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from September 10th, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Oct) | $63.67 | ▲ 1.04 |
Brent Final Day (Nov) | $67.49 | ▲ 1.10 |
RBOB (Oct) | $2.0080 | ▲ 0.0155 |
ULSD (Oct) | $2.3337 | ▲ 0.0138 |
Ethanol CU (Sept) | $1.9550 | ▼ 0.0350 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Oct) | $29.87 | ▼ 1.05 |
RB/Brent (Oct) | $14.39 | ▼ 0.63 |
HO/WTI Crack (Oct) | $34.35 | ▼ 0.46 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C53): -6.30
Jet Fuel 54g (C53): -20.25
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $0.9600 | ▲ 0.0075 |
D4 (Biodiesel) | $0.9975 | ▲ 0.0075 |
D5 (Advanced) | $0.9650 | ▼ 0.0300 |
D3 (Cellulosic) | $2.1700 | ▼ 0.0200 |
Freight Market Summary
Clean Tankers - Tonnage lists in the U.S. Gulf remain heavy, leaving shipowners under pressure. While steady flows into Latin America and the U.S. East Coast provide a necessary outlet, they’re not sufficient to offset the oversupply. Risk premiums tied to congestion and geopolitical uncertainty remain embedded in pricing, giving some stability. Overall sentiment is soft but balanced.
Crude Tankers - VLCCs continue to route via the Cape of Good Hope, bypassing Hormuz and the Red Sea. These extended voyages continue to tie up global tonnage, supporting long-haul Middle East–Asia freight rates. The Cape detour is still treated as the “default” route, sustaining structural firmness across crude freight despite broader muted demand.
LNG Shipping - Atlantic Basin LNG freight remains firm, supported by steady demand and limited vessel availability. Seasonal weather risks and risk-averse routing strategies are stretching voyages further, reducing spot supply. With slack in the system minimal, the market remains highly vulnerable to upside should incremental demand emerge.
Routing & Geopolitics - No material routing changes today. Tankers across clean, crude, and LNG classes continue avoiding chokepoints, extending voyages and reducing effective supply. These structural inefficiencies maintain a pricing floor under freight markets, keeping conditions stable but 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