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Bullish As of Aug 21, 2026 17:15 ET Download PDF

Daily Energy & Shipping Briefing — Aug 22, 2026

The oil market rallied on Friday, driven by escalating geopolitical tensions between the US and Iran, with the US threatening further sanctions and Iran warning of a devastating response. This has led to concerns over supply disruptions in the Strait of Hormuz, pushing crude and product prices higher. Shipping markets are also grappling with these geopolitical risks, alongside ongoing issues like the Panama Canal drought and a resurgence of Somali piracy, leading to increased...

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 94.39 +0.61
WTI NYMEX $/bbl 87.06 +0.23

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 304.68 +3.77
ULSD NYMEX c/gal 438.48 +1.13

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.77 +0.04
TTF ICE $/MMBtu 10.50 +0.10

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 379.00 +0.86

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 53.55 +0.50
ULSD/WTI Crack Spread $/bbl 101.72 +1.00

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 45,000 40,000
Suezmax, 130 WAF-UKC 35,000 30,000
Aframax, 80 Carib-USGC 28,000 25,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 21,000 26,500
LR1, 55 AG-FE 18,500 22,100
MR, 37 TC2 15,500 19,100

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 55,000 135.0 120.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 12,000 Weak 29,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 509.0 426.0 586.0
Fujairah 516.0 431.0 591.0
Rotterdam 501.0 421.0 581.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,500

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 69.50 69.52

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 3,840.00 -2.93
FTSE 100 United Kingdom 7,500.00 -10.00
Nikkei 225 Japan 66,016.00 -198.05
Pair Region Last Δ Day
EUR/$ European Union 1.11 -0.01
USD/JPY Japan 158.86 -0.16
GBP/$ United Kingdom 1.25 -0.01

Developments

  • Oil Market Rallies on Threat of Wider Economic Pressure Against Iran

    The oil market saw a rally after the U.S. President warned of 'economic warfare and isolation' against Iran, threatening consequences for countries supporting it, leading to concerns over supply disruptions.

    Sprague Energy · Aug 21, 2026

  • Crude and Product Prices End the Day, Week Higher Amid US-Iran Tensions

    Crude oil and refined product futures prices closed higher for the day and week as markets factored in potential disruptions to global petroleum supplies due to escalating U.S.-Iran tensions.

    OPIS (Dow Jones Newswires) · Aug 21, 2026

  • VLCC Tanker Prices Hit Record Highs Amid Middle East Oil Crisis

    The Middle East oil crisis has driven super tanker prices to all-time highs, with both new and secondhand Very Large Crude Carriers (VLCCs) reaching over $130 million, and one-year charter rates also at record levels.

    The Shipping Tribune · Aug 21, 2026

  • Panama Canal to Reduce Shipping Due to El Niño Drought

    The Panama Canal Authority announced a reduction in daily ship transits starting next month, from 36 to 34, and then to 32, due to low water levels caused by the El Niño phenomenon.

    The Guardian · Aug 21, 2026

  • Hormuz Disruption to Stall 2026 LNG Trade, Demand to Rise by 2050, says Shell

    Shell projects global LNG trade to remain flat in 2026 due to shipping disruptions in the Strait of Hormuz from the Iran conflict, though it anticipates significant demand growth by 2050, primarily driven by Asia.

    Reuters (via EnergyNow.com) · Aug 19, 2026

  • Somali Pirates Resurface, Adding to Global Shipping Inefficiencies

    Somali pirates are once again active around the Gulf of Aden, contributing to global shipping inefficiencies alongside other disruptions like the Panama Canal issues and Black Sea conflict, leading to longer voyages and higher costs.

    Splash247 · Aug 21, 2026