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Bullish As of Jul 31, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Aug 02, 2026

Global crude oil and refined products markets ended July with significant gains, driven by escalating geopolitical tensions in the Middle East and Black Sea, which raised concerns over supply disruptions. Natural gas prices, however, saw a monthly decline. Equity markets were mixed, while the dollar showed some volatility against major currencies.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 87.93 +1.21
WTI NYMEX $/bbl 85.45 +1.85

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 322.16 -1.92
ULSD NYMEX c/gal 412.15 -2.09

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.75 -0.01
TTF ICE EUR/MWh 31.50 -0.50

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 380.50 +1.50
US Mont Belvieu Ethane NYMEX $/mt 255.20 +0.80

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 24.50 -0.25
ULSD/Brent Crack Spread $/bbl 38.75 -0.30

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 41,500 40,800
Suezmax, 130 WAF-UKC 32,100 31,500
Aframax, 70 Caribs-USGC 28,900 27,800

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 21,200 27,100
LR1, 55 AG-FE 18,700 23,500
MR, 37 TC2 19,800 21,100

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 50,500 128.5 113.5
Suezmax, 150+ 38,000 88.0 78.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 13,500 Flat 31,000
160M3 Tri-fuel diesel electric (West) 12,800 Soft 28,500

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 805.0 595.0 1,375.0
Rotterdam 790.0 580.0 1,350.0
Fujairah 808.5 598.0 1,382.5

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 35,100
VLGC, 44 (USGC-Japan) 62,500

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 81.20 81.30

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 3,850.12 +26.90
FTSE 100 United Kingdom 10,868.05 -29.22
Pair Region Last Δ Day
EUR/$ European Union 1.15 0.00
USD/JPY Japan 157.40 -2.09

Developments

  • Oil Markets Surge in July Amid Geopolitical Tensions and Supply Threats

    Crude oil benchmarks Brent and WTI posted their largest monthly gains since March, rising over 20%, as escalating conflicts in the Middle East and Black Sea fueled concerns over global supply disruptions.

    Rigzone · Jul 31, 2026

  • US-Iran Hostilities Tighten Bunker Fuel Availability in Fujairah

    Renewed tensions between the US and Iran in the Strait of Hormuz have led to tighter bunker fuel availability in Fujairah, impacting regional shipping operations.

    engine.online · Jul 31, 2026

  • EU Carbon Price Forecasts Cut Following Commission's Reform Proposals

    Analysts have lowered their forecasts for EU carbon prices in 2026 and 2027 after the European Commission proposed reforms to the Emissions Trading System aimed at easing pressure on industries.

    Reuters · Jul 31, 2026

  • Natural Gas Prices Decline in July, Henry Hub Falls 14.69%

    US Henry Hub natural gas futures fell by 0.40% on July 31, contributing to a significant 14.69% monthly decline, as market fundamentals shifted.

    Trading Economics · Jul 31, 2026

  • ULSD Futures Climb to Four-Year High on Tight Global Supplies

    Ultra-low sulfur diesel (ULSD) futures surged to a four-year high, with a 24.26% monthly gain, driven by tightening global supplies following attacks on Russian refining infrastructure.

    DTN Progressive Farmer · Jul 31, 2026

  • Japanese Yen Weakens Despite Intervention Efforts, USD/JPY Rises

    The USD/JPY exchange rate continued to rise on July 31, despite efforts by Japanese authorities to strengthen the yen through intervention, indicating persistent market pressure.

    RoboForex · Jul 31, 2026