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Bullish As of Jul 17, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Jul 18, 2026

Energy markets closed Friday with a strong bullish tone, as Brent crude and RBOB gasoline prices surged on geopolitical tensions and robust demand. Shipping markets continued to see high asset values and newbuilding orders, while major US equities experienced a downturn led by a sell-off in technology stocks.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 88.10 +3.87
WTI NYMEX $/bbl 83.50 +3.00

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 339.27 +10.80
ULSD Heating Oil NYMEX c/gal 315.45 +8.50

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.92 +0.06
Dutch TTF ICE EUR/MWh 31.20 +0.80

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 380.00 +1.50
US Mont Belvieu Ethane NYMEX $/mt 250.00 +0.75

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 55.00 +1.00
WTI/Brent Spread $/bbl -4.60 -0.20

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 45,000 42,000
Suezmax, 130 WAF-UKC 32,000 30,500

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 19,200

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 75,000 132.5 172.0
Suezmax, 130 55,000 90.0 107.5

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 15,000 Flat 28,000
174M3 TFDE (Atlantic) 18,000 Neutral 35,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 770.5 569.0 1,117.5
Rotterdam 671.0 529.5 1,145.5

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 35,000
VLGC, 44 (USG-Japan) 42,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 79.40 79.60

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,457.69 -76.08
Dow Jones Industrial Average United States 52,146.42 -406.55
Pair Region Last Δ Day
EUR/$ European Union 1.14 0.00
$/JPY Japan 157.80 +0.15

Developments

  • Oil prices rise, Brent reaches $88.10 barrel on Gulf escalation worries.

    Brent crude futures settled at $88.10 a barrel on July 17, marking a significant weekly gain due to escalating tensions in the Middle East, pushing prices higher.

    Morningstar / Associated Press · Jul 17, 2026

  • Wall Street closes lower as tech and AI stocks lead market decline.

    The S&P 500 fell 1% on Friday, closing its first losing week in three, as investors pulled back from technology and semiconductor companies amid concerns over high valuations in the AI boom.

    NBC Palm Springs / The Washington Post · Jul 17, 2026

  • Europe's new carbon price faces backlash as 10 nations seek fuel cost changes.

    Ten EU countries, led by Italy and Poland, have requested the European Commission to reconsider its new carbon market for road transport and building fuels (ETS2), citing concerns over higher fuel costs for households and businesses.

    Jennifer L. (news article) · Jul 17, 2026

  • VLCC newbuilding orders surge tenfold, set for record-breaking year.

    Shipowners placed 183 VLCC orders in the first half of 2026, a dramatic increase from the previous year, driven by growing investor confidence, rising asset values, and tightening vessel supply.

    Riviera Maritime Media / Ocean Economist · Jul 08, 2026

  • Goldman Sachs: Swaption signals raise EUR/USD downside risks.

    Despite recent stability, Goldman Sachs believes options markets are signaling renewed downside risks for the Euro to Dollar exchange rate, as investors may be preparing for greater downside exposure.

    Dave Taylor (news article) · Jul 17, 2026

  • RBOB Gasoline prices jump, crack spreads reach historic highs.

    Front-month NYMEX RBOB Gasoline gained significantly, with refining margins reaching historic highs due to disruptions in Middle East shipments impacting oil processing.

    Morningstar / Trading Economics · Jul 17, 2026