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Bullish As of Jul 8, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Jul 09, 2026

Global energy markets are experiencing heightened volatility as escalating geopolitical tensions in the Middle East, particularly between the US and Iran, have sent crude oil prices surging. This has led to a mixed sentiment across broader markets, with equities generally declining while shipping rates remain firm amid supply concerns.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 79.25 +3.81

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 295.39 -4.94

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.21 -0.05

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 398.92 +2.00

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 25.00 +0.50

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 45,000 42,000
Suezmax, 130 WAF-UKC 32,000 30,500
Aframax, 80 Carib-USGC 28,000 26,500

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 22,000 25,000
MR, 37 TC Atlantic 18,000 20,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 55,000 132.0 120.0
Aframax, 105 35,000 75.0 65.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 15,000 Firm 32,000
174M3 MEGI (Atlantic) 20,000 Steady 40,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 633.0 448.0 912.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 38,000
VLGC, 84 (USGC-Japan) 55,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 79.00 79.05

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,482.71 -21.14
Pair Region Last Δ Day
EUR/$ European Union 1.14 +0.00

Developments

  • Oil Prices Surge as US-Iran Tensions Escalate, Threatening Middle East Supply

    Brent crude futures climbed significantly on July 8, 2026, following reports of renewed US airstrikes against Iran and the reimposition of crude sales sanctions, raising fears of supply disruptions in the Strait of Hormuz. This geopolitical instability has pushed oil benchmarks to higher levels.

    Reuters · Jul 8, 2026

  • Global Stock Markets Drop Amid Geopolitical Uncertainty and Rising Oil Prices

    Major US stock indexes, including the S&P 500 and Dow Jones Industrial Average, experienced declines on July 8, 2026, as President Trump's statements regarding the ceasefire with Iran fueled global market anxiety. Companies with high fuel bills were particularly affected.

    Associated Press · Jul 8, 2026

  • VLCC Newbuilding Orders See Significant Surge in First Half of 2026

    The VLCC newbuilding market is experiencing a landmark year, with 183 orders placed in the first half of 2026, reflecting growing investor confidence and tightening vessel supply. Newbuild prices are around $132 million, with strong time charter rates supporting investment decisions.

    Riviera Maritime Media · Jul 8, 2026

  • EU Carbon Market Faces Overhaul with Plans for Slower CO2 Cuts and More Free Permits

    The European Union is considering changes to its Emissions Trading System (ETS), potentially allowing industries to emit CO2 for longer and providing more free carbon permits. These proposals aim to balance climate targets with industrial competitiveness.

    Reuters · Jul 8, 2026

  • Natural Gas Prices See Modest Decline Despite Ongoing Supply Concerns

    US Henry Hub natural gas prices fell slightly on July 8, 2026, though Bank of America recently raised its forecast for the second half of the year due to tight supply balances and increased demand from LNG facilities and the power sector.

    Trading Economics / Investing.com · Jul 8, 2026

  • Tanker Traffic in Strait of Hormuz Recovers Cautiously Amid Persistent Risks

    Despite recent attacks on commercial vessels, tanker traffic through the Strait of Hormuz is gradually recovering, with outbound vessels gaining momentum. However, maritime security sources note that the 'start-stop' nature of the re-opening continues to inject volatility into Middle Eastern tanker markets.

    Oilprice.com / Marine Link · Jul 7, 2026