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- Fuel and Freight Daily Update - 9/17/25
09/17/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from September 16th, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Oct) | $64.52 | ▲ 1.22 |
Brent Final Day (Nov) | $68.47 | ▲ 1.03 |
RBOB (Oct) | $2.0416 | ▲ 0.0282 |
ULSD (Oct) | $2.3935 | ▲ 0.0624 |
Ethanol CU (Sept) | $2.0150 | (FLAT) |
Spread | Value | Change |
|---|---|---|
HO/Brent (Oct) | $31.70 | ▲ 1.53 |
RB/Brent (Oct) | $14.70 | ▲ 0.15 |
HO/WTI Crack (Oct) | $36.01 | ▲ 1.40 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C54): -6.60
Jet Fuel 54g (C54): -19.75
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $1.0153 | ▲ 0.0153 |
D4 (Biodiesel) | $1.0550 | ▲ 0.0150 |
D5 (Advanced) | $1.0450 | ▲ 0.0125 |
D3 (Cellulosic) | $2.1800 | (FLAT) |
Freight Market Summary
Clean Tankers – The U.S. Gulf remains oversupplied with clean product tankers, keeping pressure on owners. Export demand into Latin America and the U.S. East Coast is steady but insufficient to fully offset the long vessel lists. Risk premiums tied to congestion and geopolitical uncertainty remain embedded, offering some insulation. Market tone is soft but balanced, with limited upside unless demand picks up.
Crude Tankers – VLCCs continue to favor the Cape of Good Hope route, avoiding the Red Sea and Hormuz. The extended routing continues to tie up capacity, sustaining firmness in Middle East–Asia long-haul rates. The Cape detour remains entrenched as the “default,” providing structural support despite muted global demand.
LNG Shipping – Atlantic Basin LNG freight remains tight. Seasonal weather factors and risk-averse routing are lengthening voyages, keeping spot vessel supply constrained. Rates remain firm, and the market is vulnerable to upside should incremental demand or disruptions emerge.
Routing & Geopolitics – No significant routing changes reported today. Clean, crude, and LNG tankers continue bypassing high-risk chokepoints, reinforcing longer voyages and reducing effective supply. These inefficiencies sustain a pricing floor across freight markets, leaving 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