Skip to content
Bullish As of Aug 25, 2026 09:00 ET Download PDF

Daily Energy & Shipping Briefing — Aug 25, 2026

Global energy markets are navigating heightened geopolitical tensions, particularly concerning Iran and the Strait of Hormuz, which continues to underpin crude oil prices and dirty tanker rates. While Atlantic LNG rates have softened due to vessel surplus, overall energy sentiment remains bullish on supply concerns, with strong demand for natural gas in the US and Europe.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 91.50 -0.50
WTI NYMEX $/bbl 84.50 -0.55

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 328.00 -6.79
ULSD Heating Oil NYMEX c/gal 430.00 -19.48

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.75 -0.02
Dutch TTF ICE EUR/MWh 67.50 +1.50

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 700.00 -5.00

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 44.00 -1.00
Gasoil/Brent Crack Spread $/bbl 38.50 -0.75

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 100,000 80,000
Suezmax, 130 WAF-UKC 55,000 48,000

Clean Tanker (Spot TCE, $/day)

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

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 115,000 130.0 135.0
Aframax, 105 45,000 80.0 85.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 15,000 Soft 30,000
174M3 TFDE (Atlantic) 9,000 Bearish 45,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 800.0 660.0 1,400.0
Rotterdam 780.0 640.0 1,380.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 35,000
VLGC, 44 (USGC-Japan) 60,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 70.00 70.05

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,650.00 -24.37
Dow Jones Industrial Average United States 39,000.00 +140.00
Pair Region Last Δ Day
EUR/$ European Union 1.17 0.00
$/JPY Japan 159.20 +0.26

Developments

  • Oil Retreats as US Announces 'Unprecedented' Campaign to Isolate Iran

    Crude oil prices fell after the US Treasury Secretary outlined a new campaign to pressure Iran, aiming to curb its influence over the Strait of Hormuz. WTI and Brent saw declines, though Brent had rallied significantly in the preceding weeks.

    Rigzone · Aug 24, 2026

  • Oil Market Holds Firm Amid US Threats to Iran's Trading Partners

    Despite US threats of economic sanctions against Iran's trading partners, the oil market remained supported, reflecting ongoing concerns about the protracted conflict and its impact on global supply. Iran vowed a 'devastating' response to any new US threats.

    Sprague Energy · Aug 24, 2026

  • Atlantic LNG Shipping Rates Sink Amid Vessel Surplus and Weak Demand

    Atlantic LNG charter rates have plummeted to their lowest levels since March 2025, with two-stroke rates assessed at $9,000/day. A surplus of vessels and weak cargo demand, despite Europe's need to refill gas storage, are pressuring freight costs.

    ICIS · Aug 24, 2026

  • Natural Gas Prices Rise on US Heat, LNG Demand, and European Supply Risks

    US natural gas prices are rising due to persistent above-average temperatures increasing electricity demand for air conditioning. European natural gas prices also reached their highest level since January 2023 amid growing supply concerns.

    Proactive Investors · Aug 24, 2026

  • VLCC Secondhand Values Hit Decade Highs Amid Strong Freight Market Rally

    Secondhand prices for VLCCs have reached decade highs, driven by robust freight markets and strong cash generation. Analysts note that improved freight visibility has significantly boosted asset values across all tonnage, including older units.

    Breakwave Advisors · Mar 02, 2026

  • Five-Year-Old VLCCs Now Cost More Than Newbuilds Due to Geopolitical Risk

    The appetite for VLCC tonnage remains undiminished by geopolitical risks, with five-year-old secondhand vessels commanding a premium over newbuild prices. This trend is attributed to the ongoing conflict in the Middle East and its impact on vessel availability.

    Seatrade Maritime News · May 07, 2026