Daily Energy & Shipping Briefing — Jul 06, 2026
Crude oil prices saw mixed movements today, with Brent slightly down and WTI edging higher on short covering, as markets weighed increased OPEC+ output against ongoing Strait of Hormuz disruptions and below-average US crude inventories. Equity markets were also mixed, with AI stocks rebounding while the broader Dow Jones Industrial Average saw a slight decline. Carbon prices in Europe continued their upward trend, while natural gas prices experienced a slight dip.
Energy Prices
Crude
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| Brent ICE | $/bbl | 71.78 | -0.34 |
| WTI NYMEX | $/bbl | 68.69 | +0.11 |
Products
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline NYMEX | c/gal | 291.73 | -2.79 |
| Heating Oil NYMEX | c/gal | 318.22 | -3.57 |
Natural Gas
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Henry Hub NYMEX | $/MMBtu | 3.24 | 0.00 |
Natural Gas Liquids
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Mont Belvieu Propane NYMEX | $/mt | 378.14 | +1.25 |
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 |
Clean Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| LR2, 75 | AG-FE | 20,500 | 26,400 |
| MR, 50 | TC2 (UKC-USAC) | 18,000 | 19,500 |
Time Charter & Asset Values
| Vessel | 1yr ($/day) | Newbuild ($M) | 5yr ($M) |
|---|---|---|---|
| VLCC, 200+ | 76,900 | 129.0 | 138.0 |
| Suezmax, 130 | 48,000 | 88.0 | 107.5 |
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 | 648.0 | 458.0 | 890.0 |
LPG (Spot TCE, $/day)
| VLGC, 44 (AG-Japan) | 34,643 |
Carbon Markets
| Instrument | Unit | Bid | Offer |
|---|---|---|---|
| European Union Allowances (Spot) | EUR/ton | 81.85 | 81.87 |
Equities & Currencies
| Index | Region | Last | Δ Day |
|---|---|---|---|
| S&P 500 | United States | 5,480.00 | +38.36 |
| Dow Jones Industrial Average | United States | 52,860.00 | -40.00 |
| Pair | Region | Last | Δ Day |
|---|---|---|---|
| EUR/$ | European Union | 1.14 | 0.00 |
| USD/JPY | Japan | 162.34 | +0.97 |
Developments
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OPEC+ Output Hikes Fail to Lift Supply as US Crude Stocks Stay 7% Below Average
OPEC+ approved a third consecutive monthly output increase, but the Strait of Hormuz closure continued to cap output, limiting the increase in physical supply. Brent crude fell to $71.78 per barrel, near a four-month low, while WTI traded at $68.49, reflecting continued pressure from expectations of higher OPEC+ supply and recovering Gulf exports.
Vertex AI Search · Jul 06, 2026
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WTI Crude Oil Price Forecast: OPEC Production Increase Combined With Hormuz Strait Navigation May Drag Prices Down to $60.
WTI crude oil prices faced downward pressure, consolidating around $68.60 after a limited rebound, due to the erosion of geopolitical risk premium from normalized shipping through the Strait of Hormuz and OPEC+ production hikes. Technically, WTI remains bearish, trading below the SMA5 and key resistance levels, with market sentiment weak and $70 serving as a critical ceiling.
TradingKey · Jul 06, 2026
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The Dow's Record 52,900 Close Hides a Bigger Story: Wall Street Is Rotating Away From Tech
The Dow Jones Industrial Average closed at a record 52,900.07 on Thursday, July 2, its 20th record close of 2026, but the real story is Wall Street's rotation from tech to value stocks. As U.S. markets reopened Monday, July 6, after the holiday, futures pointed to the rotation holding, with the Nasdaq 100 surging more than 1% early as investors favored a broader set of sectors.
Disruption Banking · Jul 06, 2026
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Rebounds for AI stocks lift US indexes
A rebound for AI stocks sent indexes higher on Wall Street Monday, with the S&P 500 rising 0.7% and the Nasdaq composite 1.3% higher, as of noon Eastern time. However, the Dow Jones Industrial Average was down 40 points, or 0.1%, indicating mixed market performance.
The Washington Post · Jul 06, 2026
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European Commission sets second quarterly EU CBAM price at €75.28
The European Commission on Monday published the second quarterly reference price for certificates accepted under the EU's Carbon Border Adjustment Mechanism (CBAM) at €75.28/t CO2e. This price is calculated using a weighted average of the EU emissions trading system (ETS) auction clearing prices over the period.
Carbon Pulse · Jul 06, 2026
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WoodMac Research Predicts Henry Hub Rises to $5/MMBtu by 2035
Global research firm Wood Mackenzie warns that a decade of cheap U.S. natural gas is ending, with Henry Hub prices expected to approach $5/MMBtu by 2035. This shift is driven by surging demand from LNG exports and AI data centers, with U.S. LNG exports jumping from 0.5 Bcf/d in 2016 to 15.0 Bcf/d in 2025.
MDN · Jul 06, 2026
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Why some steelmakers are trying to weaken the EU ETS
A deep divide in the steel lobby is evident as some major European steelmakers called for immediate action to halt the escalation of ETS-related costs, while competitors demanded policymakers stay the course with the ETS. This comes ahead of the European Commission's review of the EU Emission Trading System.
Carbon Market Watch · Jul 05, 2026
