Energy commodities were the worst-performing sector in Q3 and declined over the first six months of 2025. While Rotterdam coal and distillate crack spreads rose, oil, gasoline, gasoline refining spreads, natural gas, and ethanol swaps posted losses in Q2 2025.
I ended my Q1 energy report on Barchart with, “Expect lots of volatility in the energy commodities, and you will not be disappointed.”
