Skip to content
Neutral As of Jul 10, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Jul 12, 2026

Energy markets remain highly sensitive to geopolitical developments in the Middle East, with crude oil prices seeing volatility amidst renewed US-Iran tensions and subsequent de-escalation efforts. While equities showed resilience, the underlying supply concerns continue to influence the oil and shipping sectors, driving strong demand for tanker tonnage and pushing asset values higher.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 76.01 -0.29
WTI NYMEX $/bbl 71.41 -0.67

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 298.46 -5.41
Heating Oil NYMEX c/gal 353.00 -3.77

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.94 -0.07

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 450.00 +1.50

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 49.34 -1.98

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 60,000 50,000
Suezmax, 140 WAF-UKC 45,000 40,000
Aframax, 80 Caribs-USG 30,000 28,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 35,000 30,000
MR, 37 TC2 (UKC-USAC) 25,000 22,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 65,000 132.0 138.0
Suezmax, 140 48,000 90.0 88.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 150,000 Strong 100,000
160M3 Tri-fuel diesel electric (West) 130,000 Firm 90,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 650.0 550.0 750.0
Rotterdam 630.0 530.0 730.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 45,000
VLGC, 44 (USG-Japan) 55,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 79.15 79.25

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,575.39 +31.75
Dow Jones Industrial Average United States 52,637.01 +149.60
Pair Region Last Δ Day
EUR/$ European Union 1.14 0.00

Developments

  • Brent's 6% Rally & Hormuz Blockade Risk Put $85-90 Oil in Focus for Energy-Intensive Miners

    Renewed US-Iran airstrikes have cut Strait of Hormuz ship traffic by 15%, pushing Brent crude up 6% to $76.34/bbl for the week and raising concerns about sustained energy costs for industries.

    Crux Investor · Jul 11, 2026

  • Global Oil Market May Exceed $100 by Early 2027, Eni CEO Warns

    Eni CEO Claudio Descalzi warned that the global oil market could break out of its $80-$100 range by early 2027 if the Middle East conflict persists, driven by dwindling stockpiles and finite global reserves.

    Reuters · Jul 11, 2026

  • VLCC Newbuilding Orders Surge Tenfold Toward Record-Breaking Year

    Shipowners placed 183 VLCC orders in the first half of 2026, a tenfold increase from the previous year, reflecting strong investor confidence and rising asset values in the tanker sector.

    Ocean Economist · Jul 08, 2026

  • VLCC Secondhand Prices Surge Up to 35% Premium Amid Middle East Tensions

    The resale price of a 5-year-old VLCC has reached $138 million, exceeding newbuild costs, as geopolitical risks and demand for immediate shipping capacity drive up secondhand values.

    iMarine · May 09, 2026

  • Oil Price Forecast: ING Cuts Brent Outlook As Supply Returns Faster Than Expected

    Oil prices remain under pressure after the rapid reopening of the Strait of Hormuz boosted supply expectations, prompting ING to lower its Brent crude forecasts for the rest of the year, despite renewed US-Iran military tensions.

    ING · Jul 10, 2026

  • S&P 500 Nears Record High, Erasing Iran Oil-Shock Damage

    The S&P 500 closed up 0.42% at 7,575.39, capping a winning week and erasing earlier losses from the Iran oil shock, though the rally was driven by a handful of megacap tech stocks.

    Meta Trading Club · Jul 10, 2026