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Neutral As of Jul 07, 2026 16:00 UTC Download PDF

Daily Energy & Shipping Briefing — Jul 07, 2026

Energy markets saw crude oil prices rise on Tuesday, driven by renewed geopolitical tensions in the Strait of Hormuz following vessel attacks, despite earlier easing concerns and an OPEC+ agreement for increased August production. Natural gas futures retreated on lower power burn, while EU carbon allowances gave up earlier gains. Equities showed mixed performance with some tech concerns.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 72.60 +0.61
WTI NYMEX $/bbl 69.04 +0.49

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 300.96 +0.63
Heating Oil NYMEX c/gal 329.84 +11.62

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.19 -0.06
Dutch TTF ICE EUR/MWh 32.50 -0.80

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 369.05 +7.35
US Mont Belvieu Ethane NYMEX $/mt 155.00 +1.50

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 23.50 +0.10
Heating Oil/Brent Crack Spread $/bbl 30.25 +0.20

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 42,500 40,000
Suezmax, 130 WAF-UKC 33,000 31,500
Aframax, 80 Carib-USGC 28,000 27,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 22,000 25,000
MR, 37 TC2 (UKC-USAC) 19,500 21,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 47,000 128.5 110.0
Suezmax, 130 38,000 85.0 70.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 18,000 Flat 35,000
160M3 Tri-fuel diesel electric (West) 15,000 Flat 32,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 662.0 448.0 899.0
Rotterdam 645.0 489.0 1,218.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 36,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 80.50 80.52

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,520.00 -17.43
FTSE 100 United Kingdom 7,800.00 -20.00
Pair Region Last Δ Day
EUR/$ European Union 1.14 0.00
$/JPY Japan 155.00 +0.15

Developments

  • Oil Prices Rise as Strait of Hormuz Attacks Renew Geopolitical Risk

    Crude oil futures gained on Tuesday following reports of attacks on vessels near the Strait of Hormuz, reigniting fears of supply disruptions through the critical waterway. Brent crude rose to $72.60 a barrel, while WTI climbed to $69.04.

    Reuters, gCaptain · Jul 07, 2026

  • OPEC+ Agrees to Modest August Production Increase Amid Shifting Market Focus

    OPEC+ members approved a further increase in production targets for August, with the market balancing this additional supply against geopolitical tensions and global demand prospects. This follows earlier output hikes in June and July.

    Sprague Energy, Bloomberg · Jul 07, 2026

  • Shipping Executives Demand 'Safe and Sustainable' Passage Through Strait of Hormuz

    Top shipping company executives stated that safe and sustainable passage through the Strait of Hormuz is crucial before significant oil or cargo traffic can resume, despite a temporary ceasefire. Concerns about safety remain due to potential risks like mines.

    Reuters · Jul 06, 2026

  • EU Carbon Allowances Retreat as Sellers Emerge Despite Auction Volume Reduction

    European Union carbon allowances (EUAs) gave back Monday's gains on Tuesday morning, as sellers entered the market. This occurred despite an anticipated reduction in EU auction volumes due to the upcoming end of the REPowerEU program.

    Carbon Pulse · Jul 07, 2026

  • Natural Gas Futures Decline as Power Burn and LNG Feed Gas Demand Fall

    US Henry Hub natural gas futures retreated on Tuesday, undoing Monday's gains, as forecasts indicated weaker daily cooling demand and a drop in natural gas-fired power generation. LNG feed gas demand also saw a decline to a near one-month low.

    NGI · Jul 07, 2026

  • S&P 500 Futures Slip Amid Renewed Tech Concerns After Monday's Rally

    After a solid relief rally on Monday, S&P 500 futures slipped early Tuesday, indicating potential tech sector concerns. Polymarket traders were betting on a lower open for the benchmark index, despite the Dow Jones Industrial Average closing at a record high.

    Benzinga, 24/7 Wall St. · Jul 07, 2026