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Bullish As of Jul 14, 2026 09:00 ET Download PDF

Daily Energy & Shipping Briefing — Jul 14, 2026

Global energy markets are experiencing significant volatility driven by escalating geopolitical tensions in the Middle East, particularly around the Strait of Hormuz. Crude oil prices have surged to multi-month highs following renewed U.S.-Iran hostilities and a proposed naval blockade, while refined products also saw substantial gains. Equities were mixed, with energy stocks cushioning some losses as tech shares declined.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 86.73 +3.43
WTI NYMEX $/bbl 80.55 +2.41

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 316.63 +18.18
ULSD Heating Oil NYMEX c/gal 382.36 +27.04

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.45 -0.08
Europe TTF ICE EUR/MWh 32.50 +0.75

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 385.50 +2.10
US Mont Belvieu Ethane NYMEX c/gal 28.75 +0.55

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 46.25 +1.50
ULSD/Brent Crack Spread $/bbl 52.80 +2.20

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, 37 TC2 (UKC-USAC) 18,200 21,100

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 49,000 127.0 112.0
Aframax, 100 28,000 68.0 55.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 13,000 Dropped 30,231
160M3 Tri-fuel diesel electric (West) 14,500 Increased 32,500

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 676.0 478.5 978.5
Rotterdam 621.0 477.5 1,039.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,643
VLGC, 44 (USGC-Japan) 62,100

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 70.15 70.20

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,515.34 -60.05
Dow Jones Industrial Average United States 52,498.64 -138.37
Pair Region Last Δ Day
EUR/$ European Union 1.14 +0.00
$/JPY Japan 157.80 -0.25

Developments

  • Oil prices jump as fighting flares in the Middle East, while Asian shares are mixed

    Oil prices surged Tuesday as fighting intensified in the Middle East, with Brent crude climbing 4.1% to $86.73 a barrel after soaring nearly 10% on Monday. U.S. benchmark crude was up 3.1% at $80.55 a barrel, driven by uncertainty over supply stability as the U.S. and Iran assert control over the Strait of Hormuz.

    AP News · Jul 14, 2026

  • US naval blockade to cover Iran's entire coastline, all vessels, reigniting concerns over energy shipments

    Oil prices settled up more than 9% on Monday at a one-month high after news that a United States' naval blockade, set to begin Tuesday, will cover Iran's entire coastline, ports, and oil terminals, as well as all vessels regardless of flag. This move reignites concerns over energy shipments through the Strait of Hormuz.

    Reuters · Jul 13, 2026

  • Record LNG Imports from Yamal Project Boost Europe Amid Sanctions Concerns

    Europe achieved a historic high in liquefied natural gas (LNG) imports from Russia's Yamal LNG project on July 13, 2026, with 9.89 million tons, an 18% year-on-year increase. This surge occurs just months before the EU's ban on Russian gas imports takes effect, highlighting Europe's ongoing reliance on Russian energy.

    GuruFocus · Jul 13, 2026

  • Hormuz Crisis Cuts Gulf LNG Exports by 35 bcm, Offset by US and other producers

    Liquefied natural gas (LNG) loadings from Qatar and the UAE dropped by 35 billion cubic meters since the Middle East conflict erupted in March 2026. However, around two-thirds of this lost supply was offset by higher LNG production from the US, Canada, Africa, Nigeria, and Malaysia.

    Egypt Oil & Gas · Jul 13, 2026

  • Biofuel Bunker Prices Show Mixed Movements Across Global Ports

    Biofuel bunker prices have shown notable movements, with Rotterdam's ZRE A-rebated B30-VLSFO (POMEME) price increasing by $23 per metric ton over the last seven days, while Singapore's B30-VLSFO (UCOME) price increased by $62 per metric ton.

    IndexBox · Jul 13, 2026

  • S&P 500 and Dow Jones fall as AI stocks sink amid geopolitical tensions

    On Monday, the S&P 500 fell 0.8% to 7,515.34, and the Dow Jones Industrial Average dropped 0.3% to 52,498.64. Slumping AI stocks, particularly after losses for SK Hynix, weighed on markets, despite energy stocks providing some cushion due to rising oil prices.

    AP News · Jul 13, 2026