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- Fuel and Freight Daily Update - 9/24/25
09/24/2025
Futures Market Settles (Front Month)
All prices reflect end-of-day settlements from September 23rd, 2025
Instrument | Settlement | Change |
|---|---|---|
WTI Future (Nov) | $63.41 | ▲ 1.13 |
Brent Final Day (Nov) | $67.63 | ▲ 1.06 |
RBOB (Oct) | $1.9991 | ▲ 0.0209 |
ULSD (Oct) | $2.3280 | ▲ 0.0357 |
Ethanol CU (Sept) | $1.9750 |
Spread | Value | Change |
|---|---|---|
HO/Brent (Nov) | $29.89 | ▲ 0.43 |
RB/Brent (Oct) | $13.84 | ▼ 0.14 |
HO/WTI Crack (Oct) | $34.11 | ▲ 0.36 |
ULSD & Jet Physical Market Settles
Colonial Pipeline Differentials (USGC):
ULSD 62g (C56): -6.15
Jet Fuel 54g (C56): -19.00
OPIS RIN Futures
Type | Price | Change |
|---|---|---|
D6 (Ethanol) | $0.9600 | ▲ 0.0075 |
D4 (Biodiesel) | $0.9950 | ▲ 0.0075 |
D5 (Advanced) | $0.9775 | (FLAT) |
D3 (Cellulosic) | $2.2200 | ▲ 0.0300 |
Freight Market Summary
Clean Tankers – The U.S. Gulf remains heavy with clean tanker supply, keeping owners under pressure. While steady flows into Latin America and the U.S. East Coast provide some outlet, oversupply continues to cap upside. Risk premiums tied to delays and geopolitical uncertainty remain built into pricing, cushioning rates from sharper losses. Market tone remains soft but balanced.
Crude Tankers – VLCCs are still firmly committed to the Cape of Good Hope detour, bypassing Hormuz and the Red Sea. The extended voyages continue to tie up global tonnage and structurally support Middle East–Asia long-haul rates. Despite muted demand signals, the Cape route is entrenched as the “default,” creating a durable floor under crude freight.
LNG Shipping – LNG freight conditions remain firm, supported by steady Atlantic Basin demand and thin vessel availability. Seasonal weather risks and cautious routing strategies are lengthening voyages, tightening spot supply. The market remains prone to upside if demand rises or disruptions occur.
Routing & Geopolitics – No major shifts in routing strategy today. Tankers across clean, crude, and LNG continue detouring around high-risk chokepoints. These longer voyages reduce effective supply, reinforcing structural support under freight pricing and keeping conditions steady 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