Daily Energy & Shipping Briefing — Jul 23, 2026
Global energy markets are experiencing significant volatility with crude oil prices surging to six-week highs amid escalating geopolitical tensions between the U.S. and Iran, and threats to key shipping lanes in the Strait of Hormuz and Red Sea. LNG supplies from Qatar are also facing disruptions, pushing up natural gas prices. Equity markets are mixed, grappling with inflation concerns driven by higher energy costs.
Energy Prices
Crude
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| Brent ICE | $/bbl | 96.24 | +2.17 |
| WTI NYMEX | $/bbl | 88.27 | +1.44 |
Products
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline NYMEX | c/gal | 342.28 | +1.69 |
| ULSD Heating Oil NYMEX | c/gal | 413.42 | +0.76 |
Natural Gas
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Henry Hub NYMEX | $/MMBtu | 2.95 | +0.03 |
| EU TTF ICE | EUR/MWh | 62.87 | +0.33 |
Natural Gas Liquids
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Mont Belvieu Propane NYMEX | $/mt | 605.00 | +8.50 |
| US Mont Belvieu Ethane NYMEX | $/mt | 455.00 | +6.00 |
Price Spreads
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline/Brent Crack Spread | $/bbl | 30.50 | +0.75 |
| ULSD Heating Oil/Brent Crack Spread | $/bbl | 35.20 | +0.90 |
Shipping Rates & Bunkers
Dirty Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| VLCC, 270 | AG-FE | 105,000 | 75,000 |
| Suezmax, 130 | WAF-UKC | 62,000 | 48,000 |
| Aframax, 80 | Carib-USGC | 48,000 | 35,000 |
Clean Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| LR2, 75 | AG-FE | 42,000 | 30,000 |
| MR, 37 | TC2 | 32,000 | 25,000 |
Time Charter & Asset Values
| Vessel | 1yr ($/day) | Newbuild ($M) | 5yr ($M) |
|---|---|---|---|
| VLCC, 200+ | 72,000 | 138.0 | 122.0 |
| Suezmax, 150+ | 55,000 | 95.0 | 80.0 |
LNG Vessels ($/day)
| Type | Spot | Sentiment | 52wk Avg |
|---|---|---|---|
| 160M3 Tri-fuel diesel electric (East) | 155,000 | Bullish | 95,000 |
| 174M3 MEGI (Atlantic) | 145,000 | Bullish | 88,000 |
Bunkers ($/mt)
| Port | VLSFO | HSFO | MGO |
|---|---|---|---|
| Singapore | 755.0 | 655.0 | 855.0 |
| Rotterdam | 735.0 | 635.0 | 835.0 |
LPG (Spot TCE, $/day)
| VLGC, 44 (AG-Japan) | 72,000 |
| VLGC, 44 (USGC-Japan) | 80,000 |
Carbon Markets
| Instrument | Unit | Bid | Offer |
|---|---|---|---|
| European Union Allowances (Spot) | EUR/ton | 85.00 | 85.20 |
Equities & Currencies
| Index | Region | Last | Δ Day |
|---|---|---|---|
| S&P 500 | United States | 7,507.00 | +8.04 |
| Dow Jones Industrial Average | United States | 52,250.00 | +26.00 |
| Pair | Region | Last | Δ Day |
|---|---|---|---|
| EUR/$ | European Union | 1.08 | -0.01 |
| USD/JPY | Japan | 163.08 | -0.01 |
Developments
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Oil Prices Extend Rally as U.S.-Iran Conflict and Strait of Hormuz Risks Fuel Supply Concerns
Oil markets continued their upward trend due to ongoing military exchanges between the U.S. and Iran, coupled with threats of a naval blockade by Houthi militants in the Red Sea, raising significant concerns about global crude supply disruptions.
Sprague Energy · Jul 22, 2026
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Crude Oil Prices Climb to 6-Week High as US-Iran Tensions Escalate
Crude oil prices surged over 1.5% on Thursday, reaching their highest levels in more than six weeks, as escalating tensions between the United States and Iran intensified fears over global energy supplies and potential disruptions to key shipping routes.
Angel One · Jul 23, 2026
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Oil prices touch six week high as Strait of Hormuz is 'completely closed'
Brent crude surpassed $96 a barrel and WTI climbed past $88 on Thursday, driven by the unabating Middle East conflict and reports from Iran's Revolutionary Guards that the Strait of Hormuz was 'completely closed' to uncoordinated shipping.
The Times of India · Jul 23, 2026
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QatarEnergy prepares to extend force majeure on LNG into mid-October, Bloomberg News reports
QatarEnergy is reportedly preparing to extend force majeure on its liquefied natural gas shipments until mid-October, as ongoing tensions in the Strait of Hormuz continue to disrupt approximately 93% of Qatar's LNG exports.
Bloomberg News (via BOE Report) · Jul 22, 2026
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Oil Tankers Continue to Change Course After Houthi Threats
Several oil tankers in the Red Sea altered their routes, with some signaling the Suez Canal as their new destination, following threats from Yemen's Houthi militia to target ships bound for Saudi Arabian ports.
Marine Link · Jul 22, 2026
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Oil Markets Are Bracing for a Second Chokepoint Crisis as Tankers Begin to Turn Around in the Red Sea
The Red Sea is emerging as a second critical chokepoint crisis for oil markets, with tankers reversing course or idling due to Houthi threats, adding to the severe disruptions already impacting the Strait of Hormuz.
24/7 Wall St. · Jul 22, 2026
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New Climb in Oil Prices Sends Bond Yields Near 2026 Highs
Rising oil prices, fueled by escalating conflicts in the Middle East and Ukraine, are pushing bond yields higher, with the 10-year Treasury yield approaching its 2026 peak amidst renewed inflation concerns.
Wall Street Journal (via Morningstar) · Jul 22, 2026
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NASDAQ, S&P 500, Dow Jones decline as oil prices rise on US-Iran tensions
U.S. benchmark indexes settled lower on Wednesday, with the NASDAQ Composite, S&P 500, and Dow Jones Industrial Average all declining, as rising oil prices and geopolitical tensions weighed on investor sentiment.
Upstox · Jul 23, 2026
