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Bullish As of Jul 18, 2026 19:11 SGT Download PDF

Daily Energy & Shipping Briefing — Jul 19, 2026

Global crude oil prices surged on Friday, driven by escalating US-Iran hostilities and concerns over Red Sea shipping, while refined products also saw gains. The tanker market, particularly VLCCs, experienced unprecedented strength in both spot rates and secondhand values due to geopolitical risks and tight supply. In the natural gas sector, Henry Hub prices edged higher ahead of storage data, even as multiple LNG projects reached final investment decisions, signaling future...

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 88.10 +3.87
WTI NYMEX $/bbl 84.50 +3.50

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 339.27 +10.80
ULSD Heating Oil NYMEX c/gal 315.50 +8.20

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.92 +0.02
TTF (Europe) ICE EUR/MWh 32.50 +0.80

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 375.76 +19.80
US Mont Belvieu Ethane NYMEX $/gal 0.35 +0.01

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 19.32 -0.10
Gasoil/Brent Crack Spread $/bbl 25.80 +0.15

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 75,000 65,000
Suezmax, 130 WAF-UKC 58,000 52,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 35,000 32,000
MR, 37 USG-UKC 28,000 25,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 95,000 129.0 138.0
Suezmax, 150 60,000 90.0 98.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 28,000 Firm 50,000
174M3 MEGI (Atlantic) 32,000 Stable 55,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 769.5 552.0 1,119.5
Rotterdam 755.0 540.0 1,090.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 45,000
VLGC, 44 (USG-Japan) 52,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 78.50 78.60
California Carbon Allowances (Spot) USD/ton 38.20 38.30

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 5,350.20 -15.50
FTSE 100 United Kingdom 7,980.50 -25.30
Pair Region Last Δ Day
EUR/$ European Union 1.14 0.00
$/JPY Japan 157.20 +0.15

Developments

  • US-Iran Hostilities Escalate, Driving Crude Prices Higher and Threatening Red Sea Shipping

    Renewed hostilities between the US and Iran, including reported attacks on Kuwaiti infrastructure and near-paralysis of tanker traffic through the Strait of Hormuz, sent Brent crude futures surging to $88.10/bbl on Friday. The escalating conflict has ignited a significant supply-risk premium in the market.

    Reuters/Investing.com · Jul 18, 2026

  • VLCC Tanker Rates and Secondhand Values Soar Amid Geopolitical Tensions and Tight Supply

    The VLCC market is experiencing unprecedented strength, with spot charter rates reaching record highs and secondhand vessel prices commanding significant premiums over newbuilds. Geopolitical tensions, particularly in the Middle East, are contributing to tighter tonnage availability and driving up freight costs.

    gCaptain/Seatrade Maritime News · Jul 17, 2026

  • Multiple LNG Projects Reach Final Investment Decisions, Boosting Future Supply Outlook

    Several liquefied natural gas (LNG) projects, including Delfin LNG's first floating facility in the US, Texas LNG Brownsville, and Shell's regasification terminal in The Bahamas, have recently achieved Final Investment Decisions (FIDs). These developments signal a robust expansion of global LNG supply capacity in the coming years.

    LNG Prime/Offshore-energy.biz · Jul 15, 2026

  • Henry Hub Natural Gas Prices Edge Up Ahead of Storage Data, Despite Mild Weather Forecasts

    US Henry Hub natural gas prices saw a modest increase on Friday, trading at $2.924/MMBtu for the August contract, ahead of fresh storage data. This rise comes despite forecasts for mild long-term weather in key northern markets, which typically temper demand.

    YCharts/CME Group · Jul 18, 2026