Daily Energy & Shipping Briefing — Jul 28, 2026
Crude oil prices saw a significant decline on Monday as geopolitical tensions in the Middle East eased, while US equities closed mixed. In shipping, tanker rates showed strong gains across several routes, and newbuilding orders for VLCCs are on track for a record year, though the LNG sector faced a setback with an extended commissioning process for a key project.
Energy Prices
Crude
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| Brent ICE | $/bbl | 91.82 | -8.50 |
Products
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline NYMEX | c/gal | 324.00 | -2.90 |
Natural Gas
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Henry Hub NYMEX | $/MMBtu | 3.75 | -0.05 |
Natural Gas Liquids
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Mont Belvieu Propane NYMEX | $/mt | 380.50 | +1.50 |
Price Spreads
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline/Brent Crack Spread | $/bbl | 25.50 | -0.50 |
Shipping Rates & Bunkers
Dirty Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| VLCC, 270 | AG-FE | 85,000 | 75,000 |
| Suezmax, 130 | WAF-UKC | 55,000 | 50,000 |
| Aframax, 80 | Cross-UKC | 127,600 | 110,000 |
Clean Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| LR2, 75 | AG-FE | 28,000 | 25,000 |
| MR, 50 | USG-Cont | 38,500 | 35,000 |
Time Charter & Asset Values
| Vessel | 1yr ($/day) | Newbuild ($M) | 5yr ($M) |
|---|---|---|---|
| VLCC, 200+ | 65,000 | 131.0 | 138.0 |
LNG Vessels ($/day)
| Type | Spot | Sentiment | 52wk Avg |
|---|---|---|---|
| 160M3 Tri-fuel diesel electric (East) | 13,000 | Flat | 30,231 |
Bunkers ($/mt)
| Port | VLSFO | HSFO | MGO |
|---|---|---|---|
| Singapore | 765.0 | 552.0 | 1,300.3 |
LPG (Spot TCE, $/day)
| VLGC, 44 (AG-Japan) | 34,643 |
Carbon Markets
| Instrument | Unit | Bid | Offer |
|---|---|---|---|
| European Union Allowances (Spot) | EUR/ton | 70.10 | 70.15 |
Equities & Currencies
| Index | Region | Last | Δ Day |
|---|---|---|---|
| S&P 500 | United States | 7,413.18 | +1.20 |
| Pair | Region | Last | Δ Day |
|---|---|---|---|
| EUR/$ | European Union | 1.14 | 0.00 |
Developments
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Crude Oil Prices Tumble as Mideast Tensions Ease, Inventory Builds Weigh
Brent crude fell sharply on Monday, dropping over 7% to near $90 per barrel, as a pause in US-Iran strikes unwound geopolitical risk premiums and an EIA report indicated an inventory build.
Reuters/AP · Jul 27, 2026
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Sempra Infrastructure Extends ECA LNG Phase 1 Commissioning Due to Compressor Damage
Sempra Infrastructure announced an extension to the commissioning process for its ECA LNG Phase 1 project after discovering damage in refrigerant compressors during planned inspections, following its first cargo shipment in early July.
Sempra Infrastructure · Jul 28, 2026
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Baker Hughes Secures Major LNG Technology Order for Venture Global's CP2 LNG Expansion
Baker Hughes received a significant order from Venture Global LNG to supply six liquefaction blocks, totaling 12 modules, for the CP2 LNG expansion project in Louisiana, extending their existing collaboration.
Baker Hughes · Jul 27, 2026
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VLCC Newbuilding Orders Surge to Record Highs in First Half of 2026 Amid Strong Demand
Shipowners placed 183 VLCC newbuilding orders in the first half of 2026, a tenfold increase year-on-year, driven by growing investor confidence and rising asset values, with newbuild prices around $131 million and 5-year old resales at $138 million.
Veson Nautical/Ocean Economist · Jul 08, 2026
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Shipping Industry Calls for IMO to Adopt Net-Zero Framework in 2026 to Spur Decarbonization Investment
Over 85 leading shipping companies, ports, and fuel producers have urged IMO Member States to adopt the Net-Zero Framework in 2026, emphasizing its critical role in providing regulatory clarity and unlocking investments for alternative fuels and infrastructure.
GH2.org · Jul 28, 2026
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Baltic Exchange Reports Strong Gains in LR2, MR, and Aframax Tanker Rates
The latest Baltic Exchange report for July 27, 2026, indicated robust increases in clean and dirty tanker rates, with LR2, MR, and Aframax routes showing strong gains, including an 85% surge on the TD26 Aframax route.
Baltic Exchange · Jul 27, 2026
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Shipping Companies Exercise Caution on Green Fuels Amid Global Uncertainty
A new report from the International Chamber of Shipping reveals that growing global uncertainty, rather than technical challenges, is the primary factor causing shipping companies to approach the green transition with increased caution, with many pausing or modifying decarbonization plans.
Lighthouse · Jul 17, 2026
