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Neutral As of Aug 28, 2026 09:00 ET Download PDF

Daily Energy & Shipping Briefing — Aug 28, 2026

Global crude oil prices are under pressure today, with Brent slipping below $88/bbl amidst ongoing geopolitical uncertainties in the Strait of Hormuz and escalating risks to Russian energy infrastructure. Natural gas markets show mixed signals, while major equity indices are seeing gains, particularly in the tech sector, driven by strong AI-related forecasts.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 88.35 -0.17
WTI NYMEX $/bbl 83.29 -0.24

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 213.67 +2.83
Gasoil ICE $/mt 750.00 +5.00

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.91 0.00
EU TTF ICE $/MMBtu 23.53 +0.22

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 371.68 -0.74

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 23.19 -0.15

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 40,300 39,700
Suezmax, 130 WAF-UKC 28,500 27,800
Aframax, 70 Carib-USG 22,100 21,500

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 20,500 26,400
LR1, 55 AG-FE 18,200 22,300
MR, 37 TC2 (UKC-USAC) 16,800 19,500

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 49,000 127.0 112.0
Suezmax, 150 38,000 88.0 75.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 13,000 Flat 30,231
174M3 MEGI (Atlantic) 15,000 Soft 35,100

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 767.0 643.0 1,136.0
Rotterdam 641.0 556.0 1,252.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,643
VLGC, 44 (USG-Japan) 41,200

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 69.34 69.36

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,733.00 +1.55
Dow Jones Industrial Average United States 53,569.44 +105.56
Pair Region Last Δ Day
EUR/$ European Union 1.17 0.00
$/JPY Japan 155.20 +0.15

Developments

  • Oil Prices On August 28: Brent Crude Slips Below $88 As Hormuz Uncertainty, Russia Risks Weigh

    Crude oil prices are under pressure today as ongoing geopolitical tensions in the Strait of Hormuz and escalating risks to Russian energy infrastructure create supply concerns.

    NDTV Profit · Aug 28, 2026

  • Venezuela weighs OPEC exit, Bloomberg News reports

    Venezuela is reportedly considering leaving OPEC, a move that could raise questions about the cartel's cohesion and its ability to influence global crude prices, though immediate supply impact may be limited.

    Bloomberg · Aug 27, 2026

  • Tech stocks lift Wall Street as AI growth story strengthens

    Technology stocks, particularly those linked to AI, are driving Wall Street higher after strong earnings forecasts from companies like Nvidia, easing concerns about the tech rally.

    CommBank · Aug 28, 2026

  • Hormuz Oil Flows Rising as Gulf Giants' Ramp Up Accelerates

    Despite lingering threats from Iran, crude oil flows through the Strait of Hormuz are increasing as Middle Eastern producers boost exports, helping to keep global crude prices in check.

    Bloomberg via gCaptain · Aug 27, 2026

  • Shell has ended talks with Unimot over selling German refinery stake, Bloomberg News reports

    Shell has concluded negotiations to sell its stake in Germany's Russia-linked Schwedt refinery to Unimot, highlighting ongoing complexities in the European refining landscape.

    Reuters via Euronext Markets · Aug 27, 2026