Daily Energy & Shipping Briefing — Jul 10, 2026
Energy markets saw mixed signals as geopolitical tensions in the Middle East continued to influence crude oil prices, which eased after earlier gains. Natural gas prices dropped to a six-week low amid maintenance at a major LNG export facility. Meanwhile, shipping rates, particularly for VLGCs and tankers, remained robust, driven by ongoing supply chain adjustments and strong demand.
Energy Prices
Crude
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| Brent ICE | $/bbl | 76.03 | -1.99 |
| WTI NYMEX | $/bbl | 72.08 | -1.44 |
Products
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline NYMEX | c/gal | 303.87 | -6.47 |
| Heating Oil NYMEX | c/gal | 362.00 | -1.50 |
Natural Gas
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Henry Hub NYMEX | $/MMBtu | 3.01 | -0.20 |
| TTF ICE | EUR/MWh | 49.02 | +2.44 |
Natural Gas Liquids
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Mont Belvieu Propane NYMEX | $/mt | 380.00 | +1.50 |
Price Spreads
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline/Brent Crack Spread | $/bbl | 25.00 | -0.50 |
Shipping Rates & Bunkers
Dirty Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| VLCC, 270 | AG-FE | 85,000 | 80,000 |
| Aframax, 100 | Cross-Med | 45,000 | 42,000 |
Clean Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| LR2, 75 | AG-FE | 22,000 | 25,000 |
| MR, 37 | TC2 (UKC-USAC) | 18,500 | 19,000 |
Time Charter & Asset Values
| Vessel | 1yr ($/day) | Newbuild ($M) | 5yr ($M) |
|---|---|---|---|
| VLCC, 200+ | 52,000 | 130.0 | 115.0 |
| LR2, 100+ | 28,000 | 75.0 | 65.0 |
LNG Vessels ($/day)
| Type | Spot | Sentiment | 52wk Avg |
|---|---|---|---|
| 160M3 Tri-fuel diesel electric (East) | 75,000 | Volatile | 77,000 |
Bunkers ($/mt)
| Port | VLSFO | HSFO | MGO |
|---|---|---|---|
| Singapore | 672.0 | 476.0 | 973.0 |
| Rotterdam | 655.0 | 460.0 | 950.0 |
LPG (Spot TCE, $/day)
| VLGC, 44 (AG-Japan) | 150,000 |
Carbon Markets
| Instrument | Unit | Bid | Offer |
|---|---|---|---|
| European Union Allowances (Spot) | EUR/ton | 79.17 | 79.19 |
Equities & Currencies
| Index | Region | Last | Δ Day |
|---|---|---|---|
| S&P 500 | United States | 7,543.64 | +60.93 |
| Dow Jones Industrial Average | United States | 52,487.41 | +139.02 |
| Pair | Region | Last | Δ Day |
|---|---|---|---|
| EUR/$ | European Union | 1.14 | +0.00 |
| $/JPY | Japan | 162.39 | +0.20 |
Developments
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Oil Prices Lower Ahead Of Possible US-Iran Peace
Oil prices eased on Thursday as markets assessed the escalating conflict between the U.S. and Iran and its implications for efforts to end the war and fully reopen the Strait of Hormuz. Brent crude futures were down 0.1% to $77.91 a barrel.
Marine Link · Jul 09, 2026
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Stocks recover losses, and oil prices ease as calm returns to financial markets worldwide
U.S. stocks rose and oil prices eased as financial markets calmed after President Donald Trump raised doubts about the temporary truce in the war with Iran. The S&P 500 climbed 0.8% to 7,543.64.
Associated Press · Jul 09, 2026
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US Natural Gas Prices Drop To Six Week Low
U.S. natural gas futures fell about 4% to a six-week low on Thursday, driven by expectations of low gas flows to LNG export plants due to planned maintenance at Freeport LNG's facility in Texas. Front-month gas futures for August delivery fell 13.9 cents to $3.073 per MMBtu.
Marine Link · Jul 09, 2026
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Venture Global's Liquefaction Fees Jump 69% on Higher LNG Prices
U.S.-based LNG producer Venture Global reported a 69% jump in average liquefaction fees in the second quarter, benefiting from higher global LNG prices following supply disruptions caused by the Iran war.
Reuters · Jul 09, 2026
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EU Carbon-Market Rethink Risks Turning Industrial Pressure Into Climate-Policy Retreat
Brussels is considering changes to the EU Emissions Trading System that could slow required emissions reductions and extend free carbon allowances for industry, as competitiveness concerns place the bloc's climate architecture under renewed political pressure.
EUToday · Jul 09, 2026
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VLGC spot rates hit record highs amid Strait of Hormuz disruption
Very large gas carrier (VLGC) spot rates have surged to record levels, with benchmark freight on the Houston-to-Chiba route climbing to $290 per metric tonne and daily earnings spiking to almost $170,000 per day, driven by a reshaping of global LPG trade flows since the closure of the Strait of Hormuz.
Splash247 · Jul 09, 2026
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Hormuz Crisis Tracker: Commercial Vessels Clearing Strait on Case-by-Case Basis
Commercial vessels have begun clearing the Strait of Hormuz over the past few days, the first significant breakout since the February 28 blockade, with Iran approving each passage individually through new diplomatic frameworks.
Global LNG Hub · Jul 09, 2026
