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Bullish As of Aug 24, 2026 09:30 ET Download PDF

Daily Energy & Shipping Briefing — Aug 24, 2026

Energy markets remain bullish as geopolitical tensions in the Strait of Hormuz continue to drive crude oil prices higher, with Brent nearing $94/bbl. Natural gas demand is surging due to heatwaves, while EU carbon prices have hit a four-week high. Shipping markets see firm tanker rates and significant newbuilding investments, despite some volatility in LNG freight.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 93.00 -1.30
WTI NYMEX $/bbl 85.50 -1.40

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 322.58 -2.00
Gasoil ICE $/mt 880.00 +5.50

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.77 +0.05
Dutch TTF ICE EUR/MWh 66.00 -0.40

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 380.00 -3.91
US Mont Belvieu Ethane NYMEX $/gal 0.35 +0.01

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 28.50 -0.50
Gasoil/Brent Crack Spread $/bbl 35.00 +0.80

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 41,500 40,000
Suezmax, 130 WAF-UKC 28,000 27,500
Aframax, 80 Carib-USGC 22,000 21,500

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 21,000 25,000
MR, 37 TC2 (UKC-USAC) 18,500 19,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 45,200 129.0 130.0
Suezmax, 150 32,000 88.0 75.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 13,000 Volatile 30,231
174M3 MEGI (Atlantic) 15,000 Firm 35,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 831.5 667.5 1,242.5
Rotterdam 660.0 548.0 1,271.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 35,000
VLGC, 44 (USGC-Japan) 38,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 83.80 84.00

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,674.37 +30.70
FTSE 100 United Kingdom 7,950.00 +15.00
Pair Region Last Δ Day
EUR/$ European Union 1.17 0.00
USD/JPY Japan 148.20 +0.15

Developments

  • Brent Crude Nears $94 as Strait of Hormuz Standoff Drags On

    Brent crude traded just below $94 a barrel on Friday, August 21, 2026, marking a second consecutive weekly gain, as a stalled US-Iran standoff over the Strait of Hormuz kept a significant risk premium in the oil market.

    Bloomberg · Aug 24, 2026

  • Natural Gas Prices Surge on Scorching Heat Wave Across US

    Natural gas futures settled at $2.773 per million British thermal units on August 23, 2026, driven by hot weather forecasts across Texas and the Southwest through early September, which are expected to maintain high demand for power generation.

    Briefs Finance · Aug 23, 2026

  • Navios Partners Expands VLCC Newbuilding Program to Seven Ships

    Navios Maritime Partners has added three more scrubber-fitted VLCC newbuildings in a $361.5 million deal, bringing its total supertanker program to seven ships valued at $843.5 million, with deliveries scheduled for 2028 and 2029.

    The Ecosailor · Aug 22, 2026

  • EU Carbon Permits Hit 4-Week High Amid Market Activity

    EU carbon allowances posted a 1% weekly increase, surging to a two-week high on August 23, 2026, before a slight retreat as reports circulated regarding EU member states distributing free allowances for 2026.

    Carbon Pulse · Aug 23, 2026

  • Global Oil Supply Forecast to Decline in 2026 Amid Hormuz Disruptions

    The IEA's August 2026 Oil Market Report projects global oil supply to decline by 4.3 million barrels per day on average in 2026, primarily due to the continued closure of the Strait of Hormuz and reduced Middle East output.

    IEA · Aug 12, 2026

  • Singapore Bunker Prices Remain Elevated on Tight Distillate Markets

    Marine bunker prices in Singapore remain high, with VLSFO at $831.50/mt and MGO at $1242.50/mt on August 24, 2026, reflecting tight distillate markets and elevated crude input costs.

    AFRICON Group · Aug 24, 2026