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Neutral As of Jul 3, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Jul 05, 2026

Global energy markets closed out the week with mixed signals. Crude oil prices remained largely stable on Friday, influenced by ongoing Middle East peace efforts and increasing supply, while natural gas futures saw a modest rise. Equity markets presented a divergent picture, with the Dow Jones Industrial Average reaching a new record high on favorable jobs data, contrasting with a pullback in the technology sector. Bunker fuel prices in Singapore experienced increases across...

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 71.97 +0.17
WTI NYMEX $/bbl 68.71 +0.02

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 212.50 +2.00
ULSD Heating Oil NYMEX c/gal 228.75 +1.50

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.25 +0.06

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 379.50 +1.30

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 22.80 -0.10
ULSD/Brent Crack Spread $/bbl 28.50 +0.05

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 38,500 39,000
Suezmax, 130 WAF-UKC 29,000 30,500
Aframax, 80 Cross-Med 23,500 24,500

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 20,200 26,000
LR1, 55 TC1 (AG-Japan) 18,500 22,500
MR, 37 TC2 (UKC-USAC) 15,500 17,500

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 47,000 126.0 111.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 14,000 Neutral 31,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 663.0 456.0 896.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 80.59 80.61

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 1.14 +0.00
USD/JPY Japan 161.37 +0.26

Developments

  • Oil prices stable as US-Iran peace efforts hold

    Oil prices remained steady on July 3rd as traders hoped for a successful outcome from US-Iran peace talks, which could lead to a full reopening of the Strait of Hormuz and increased oil supply.

    Reuters · Jul 3, 2026

  • Citi Forecasts Brent Crude Oil at $60 a Barrel by End of 2026

    Citigroup analysts predict Brent crude will fall to $60/bbl by year-end 2026, citing the fading impact of Strait of Hormuz disruptions due to a US-Iran preliminary agreement.

    Briefs Finance · Jul 3, 2026

  • Dow Closes at Record 52,900 on Weak June Jobs Data as Nasdaq Slides 0.8% in Chip Selloff

    The Dow Jones Industrial Average hit a record high on July 2nd after weaker-than-expected June jobs data eased fears of Fed rate hikes, while the Nasdaq Composite fell due to a selloff in chip stocks.

    MLQ.ai / WaveRider AI · Jul 3, 2026

  • Japanese officials are changing their strategy for defending the yen

    Japanese authorities are reportedly shifting to sudden, targeted interventions to defend the yen, creating market uncertainty, especially with reduced liquidity due to the US Independence Day holiday.

    RoboForex · Jul 3, 2026

  • Singapore prices rise across all bunker fuel grades

    Bunker fuel prices in Singapore increased across all grades on July 3, 2026, with VLSFO, B30-VLSFO, LSMGO, and HSFO all seeing price hikes.

    engine.online · Jul 3, 2026

  • EU ETS free allowances phase out from 2026, increasing carbon costs for manufacturers

    As the EU phases out free emission allowances from 2026 to 2034, industrial companies face increasing carbon costs, making CO2 management a critical strategic factor.

    Roland Berger · Jul 3, 2026