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Neutral As of Aug 4, 2026 15:00 UTC Download PDF

Daily Energy & Shipping Briefing — Aug 04, 2026

Global energy markets presented a mixed picture on Tuesday, with crude oil prices experiencing a notable decline amid easing geopolitical tensions and an OPEC+ decision to increase supply. Natural gas prices also softened, while shipping markets, particularly tankers, continued to show robust performance with strong time charter rates and high secondhand vessel values. Major equity markets saw gains, and currencies remained relatively stable.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 86.00 -4.00
WTI NYMEX $/bbl 82.15 -3.77

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 255.00 -5.00
Gasoil ICE $/mt 780.00 -8.50

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.77 -0.05

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 356.94 -4.35

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 28.00 -0.50

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 65,000 55,000
Suezmax, 150 WAF-UKC 45,000 40,000
Aframax, 100 Carib-USGC 35,000 32,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 30,000 28,000
LR1, 55 AG-FE 25,000 23,000
MR, 37 TC2 (Cont-USAC) 22,000 20,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 95,000 129.0 135.0
Suezmax, 150 60,000 90.0 85.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 18,000 Soft 40,000
174M3 MEGI (Atlantic) 25,000 Soft 50,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 817.0 650.0 850.0
Rotterdam 669.0 515.5 780.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 50,000
VLGC, 44 (USGC-Asia) 65,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 79.50 79.60

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,650.00 +40.00
Dow Jones Industrial Average United States 53,773.62 +595.21
Pair Region Last Δ Day
EUR/$ European Union 1.15 +0.00
USD/JPY Japan 157.57 -0.01

Developments

  • Crude Oil Prices Fall as Geopolitical Risk Premium Unwinds and OPEC+ Boosts Supply

    WTI crude oil futures fell sharply on Tuesday, pressured by hopes of renewed diplomacy between the US and Iran, which eased supply disruption fears. This was compounded by an OPEC+ decision to increase oil production by approximately 188,000 barrels per day for September, signaling a looser supply outlook.

    Investing.com · Aug 4, 2026

  • VLCC Time Charter Rates Remain Elevated Amid Strong Market Conditions

    VLCC time charter rates continue to show significant strength, with one-year agreements reaching high levels. This reflects a tight compliant VLCC market driven by robust crude demand, longer trade routes, and elevated geopolitical risk premiums.

    Marine Link / gCaptain · Jan 23, 2026

  • Secondhand VLCC Values Hit Decade Highs, Driven by Strong Freight Markets

    Secondhand prices for Very Large Crude Carriers have climbed to decade highs, underpinned by a strong rally in freight markets and robust cash generation. Analysts, however, caution that the absorption rate of upcoming newbuilding deliveries will be crucial for future market direction.

    Seatrade Maritime News · Mar 2, 2026

  • Natural Gas Prices Soften, Mont Belvieu Propane Also Sees Decline

    Henry Hub natural gas spot prices continued their downward trend, with a notable decrease from the previous market day. Similarly, Mont Belvieu propane prices fell on August 3, extending a monthly decline.

    YCharts / Trading Economics · Aug 3, 2026

  • Bunker Prices Retreat from Recent Spike, MGO Remains a Cost Concern

    Global bunker prices pulled back from last week's elevated levels for VLSFO and HSFO, following volatile crude markets. However, marine gasoil prices remained comparatively high, reflecting tight refinery capacity and ongoing diesel supply concerns.

    ShipUniverse · Jul 31, 2026