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Bullish As of Jul 8, 2026 09:00 ET Download PDF

Daily Energy & Shipping Briefing — Jul 08, 2026

Energy markets are experiencing a bullish surge today, primarily driven by escalating geopolitical tensions in the Middle East, which have sent crude oil prices sharply higher. Shipping rates are also robust, with VLCC secondhand values at decade highs, while equities show mixed performance with tech stocks facing headwinds.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 76.39 +2.23
WTI NYMEX $/bbl 72.54 +2.11

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 215.00 +1.50
ULSD Heating Oil NYMEX c/gal 220.50 +1.80

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.27 +0.01
Dutch TTF ICE EUR/MWh 30.15 +0.85

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 378.14 +1.00
US Mont Belvieu Ethane NYMEX c/gal 28.50 +0.25

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 23.00 -0.50
WTI-Brent Spread $/bbl -3.85 -0.12

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 85,000 80,000
Suezmax, 130 WAF-UKC 55,000 52,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 28,000 26,000
MR, 37 TC2 (UKC-USAC) 22,000 20,500

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 102,000 131.0 138.0
Suezmax, 130 65,000 90.0 95.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 18,000 Firm 35,000
174M3 TFDE (Atlantic) 17,500 Firm 34,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 625.0 453.0 891.0
Rotterdam 610.0 435.0 875.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 40,000
VLGC, 44 (USGC-Japan) 75,000

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 7,503.85 -33.58
Dow Jones Industrial Average United States 52,925.15 -130.76
Pair Region Last Δ Day
EUR/$ European Union 1.14 0.00
USD/JPY Japan 158.20 +0.15

Developments

  • Oil Prices Surge as US Launches Strikes Against Iran Following Ship Attacks in Strait of Hormuz

    Brent crude climbed above $76 a barrel and WTI rose above $72 after the US military launched strikes against Iran in retaliation for attacks on commercial vessels in the Strait of Hormuz, escalating geopolitical tensions and raising concerns over global energy supplies.

    Reuters/Bloomberg · Jul 8, 2026

  • VLCC Secondhand Prices Hit Decade Highs Amid Strong Demand and Middle East Tensions

    The resale price of 5-year-old VLCCs has reached $138 million, exceeding newbuild costs, as geopolitical risks and strong market demand continue to drive up asset values in the tanker sector.

    iMarine/Seatrade Maritime News · May 9, 2026

  • S&P 500 Falls on Tuesday, Dragged by Weakness in AI Stocks

    The S&P 500 dipped 0.4% on July 7, with the Nasdaq composite also falling, as a roller-coaster ride for AI stocks snapped lower amid worries that their prices had shot too high.

    Associated Press · Jul 7, 2026

  • Natural Gas Prices Rise on July 8

    US Henry Hub natural gas prices rose to $3.27/MMBtu on July 8, extending recent gains, as market participants reacted to broader energy market movements.

    Trading Economics · Jul 8, 2026

  • Shipping Prices Surge Ahead of New Trump Tariffs

    Shipping prices are surging as companies attempt to front-load imports to get ahead of new tariffs proposed by former President Trump, adding to the upward pressure on freight rates.

    The Canadian Press · Jul 7, 2026

  • OPEC+ Members Plan to Expand Oil Production in August

    OPEC+ announced plans for seven of its members to expand oil production by a combined 188,000 barrels per day in August, marking the fifth consecutive month of output increases, which could temper oil price gains.

    Associated Press · Jul 6, 2026