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Neutral As of Jul 3, 2026 08:30 ET Download PDF

Daily Energy & Shipping Briefing — Jul 03, 2026

Global energy markets are showing a mixed picture as crude oil prices remain largely unchanged amid ongoing Middle East peace efforts. Equities saw a split performance, with the Dow Jones reaching a new high on softer jobs data, while the S&P 500 was flat and Nasdaq declined. Bunker fuel prices in Singapore have risen across all grades, and Henry Hub natural gas is up, with strong market conviction for further increases.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 72.26 +0.46
WTI NYMEX $/bbl 68.63 -0.06

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 213.67 +2.83
ULSD Heating Oil NYMEX c/gal 208.50 +1.50

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.25 +0.05
Dutch TTF ICE EUR/MWh 31.50 +0.80

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 378.14 +1.25
US Mont Belvieu Ethane NYMEX $/mt 285.00 +0.75

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 23.19 -0.15
ULSD/Brent Crack Spread $/bbl 28.50 +0.20

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-USGC 22,100 21,500

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 20,500 26,400
MR, 37 TC2 (UKC-USAC) 18,200 19,100

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 49,000 129.0 138.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 13,000 Flat 30,231

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 663.0 456.0 896.0
Rotterdam 586.5 451.0 923.5

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,643

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 69.34 69.36
California Carbon Allowances (Spot) $/ton 38.10 38.20

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,483.24 +0.01
Dow Jones Industrial Average United States 52,900.07 +594.83
Pair Region Last Δ Day
EUR/$ European Union 1.15 +0.00
USD/JPY Japan 161.07 -0.03

Developments

  • Dow hits record high as soft US jobs data eases rate fears

    The Dow Jones Industrial Average closed at a record high, gaining 1.14%, after a weaker-than-expected US jobs report eased concerns about further interest rate hikes. The S&P 500 was virtually unchanged, while the Nasdaq Composite declined.

    CommBank / AP · Jul 3, 2026

  • Oil prices little changed ahead of long US weekend as peace efforts hold

    Crude oil prices saw minimal movement on Friday, with Brent futures up slightly and WTI down marginally, as traders held onto hopes for successful peace efforts in the Middle East ahead of the US Independence Day holiday.

    Reuters · Jul 3, 2026

  • Singapore prices rise across all bunker fuel grades

    Bunker fuel prices in Singapore increased across all grades, with VLSFO, HSFO, and LSMGO seeing upward movements on July 3, 2026, reflecting recent trends of rising prices.

    engine.online · Jul 3, 2026

  • VLCC Secondhand Prices Surge Up to 35% Premium Amid Middle East Tensions

    The market for secondhand VLCC tankers continues to see unprecedented price levels, with five-year-old vessels commanding a premium over newbuilds due to geopolitical risks and high demand for immediate shipping capacity.

    iMarine / Signal Ocean · May 9, 2026

  • Henry Hub Natural Gas Price Expected to Hit $3.30 This Week

    Natural gas futures for Henry Hub rose, with prediction markets indicating an 89.5% implied probability that the front-month contract will touch $3.30 per MMBtu during the week ending July 3, 2026.

    Lines.com · Jun 28, 2026