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Bullish As of Jul 22, 2026 10:00 ET Download PDF

Daily Energy & Shipping Briefing — Jul 22, 2026

Global crude oil markets surged today as escalating geopolitical tensions in the Middle East, particularly renewed US strikes against Iran and Houthi threats to shipping, fueled significant supply disruption fears. Equity markets saw a rebound, while major currencies experienced mixed movements. Tanker newbuilding orders continue at a record pace, reflecting strong investor confidence despite rising asset values.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 95.16 +4.60
WTI NYMEX $/bbl 88.18 +4.56

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 216.17 +2.50
Heating Oil NYMEX c/gal 207.00 +2.00
Gasoil ICE $/mt 610.00 +10.00

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.87 +0.07
TTF ICE EUR/MWh 35.50 +0.60

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 385.00 +2.50
US Mont Belvieu Ethane NYMEX $/gal 0.29 +0.01

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 24.00 +0.81
Gasoil/Brent Crack Spread $/bbl 28.50 +1.00

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 41,000 39,900
Suezmax, 140 WAF-UKC 30,500 29,900
Aframax, 80 Cross-Med 22,300 22,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 20,700 26,600
MR, 37 TC2 18,600 19,300

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 50,000 132.5 172.0

LNG Vessels ($/day)

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

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 515.0 430.0 590.0
Rotterdam 510.0 425.0 585.0
Fujairah 517.0 432.0 592.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 35,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 70.00 70.05

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,509.20 +65.92
Dow Jones Industrial Average United States 52,225.00 +385.74
FTSE 100 United Kingdom 10,585.91 +61.15
Pair Region Last Δ Day
EUR/$ European Union 1.14 +0.00
$/JPY Japan 163.11 -0.08
GBP/$ United Kingdom 1.34 +0.00

Developments

  • Oil Price Touches $95 as US-Iran Conflict Escalates; UK Inflation Cools Faster Than Expected

    Brent crude surged to $95.16/bbl, its highest in six weeks, as US military strikes against Iran continued for the eleventh night and Iran-backed Houthis threatened a naval blockade on Saudi Arabian ports, intensifying global supply fears.

    NDTV Profit / The Guardian · Jul 22, 2026

  • WTI Crude Rises on Shipping Risks, Hits Ceiling Amid Middle East Tensions

    West Texas Intermediate (WTI) crude traded around $84.90/bbl in early European dealings, advancing due to escalating instability in the Middle East and disruptions around the Strait of Hormuz and Bab el-Mandeb chokepoints, which heightened fears over global oil flows.

    TradingPedia · Jul 22, 2026

  • Brent Crude Surges as Ceasefire Hopes Fade Again Amid US-Iran Strikes

    The front-month ICE Brent contract gained over $5/bbl, trading at $94.29/bbl, as hopes for a temporary US-Iran ceasefire diminished after President Trump ruled out immediate talks, and US Central Command conducted its 11th consecutive day of strikes against Iran.

    engine.online · Jul 22, 2026

  • Tankers Loaded with Saudi Oil Do U-Turn After Houthi Blockade Threats, Ukrainian Attacks Snarl Pipeline Operations

    Geopolitical risks are intensifying with reports of Saudi oil tankers reversing course in the Red Sea following Houthi blockade threats, while Ukrainian attacks continue to disrupt pipeline operations, further tightening global oil supplies.

    Morningstar · Jul 21, 2026

  • VLCC Newbuilding Orders on Course for Record-Breaking Year

    Shipowners placed orders for 183 VLCCs in the first half of 2026, a tenfold increase from the previous year, driven by growing investor confidence, rising asset values, and tightening vessel supply. Newbuild prices are around $132.5 million.

    Riviera Maritime Media / Ocean Economist · Jul 08, 2026

  • US Stock Markets Rebound as Chip Stocks Lead Gains Ahead of Tech Earnings

    US equities closed higher on Tuesday, with the S&P 500 rising 0.89% and the Dow Jones Industrial Average adding 0.74%, as chip stocks staged a strong recovery and investors anticipated a wave of major technology earnings.

    TheStreet / Morningstar · Jul 21, 2026