. Start off with a Background Layer set to Black (#000000).
Set the foreground color to the one of your choice, I used #4873AE for the main tube Shape.

Now select the Ellipse Shape tool on the toolbar and draw in the shape as i have captured.

Exact positioning/placement requires either ‘Path Selection or Direct Selection Tool’ on the toolbar to be selected, and then right click on the path, then choose ‘Free Transform Path. Right-click on the Free Transform bounding box and choose the Distort to position.

Also, Pay attention to all the options the arrows are pointing to.
(For more details on them see my Shape Tutorials.)

2. Repeat the above process with the Ellipse Tool, except make sure the ‘Subtract from Shape Area’ option is ticked.
Thats the one on the far right of what I have captured!

As you can see, the basic Shape is now visible. (Again requires ‘Free Transform/Distort’ to position it into place as I have done!)

3. Go the Layers Palette, right click on the layer and choose ‘Blending Modes’ and select the options as I have captured below.

4. Drop Shadow Mode Options

Drop Shadow Color #101841

5. Inner Shadow Mode Options

Inner Shadow Color #BECAE1

6. Inner Glow Mode Options

Inner Glow Color #C4CDE6

7. Bevel & Emboss Mode Options

Highlight Mode Color #B0B6C1
Shadow Mode Color #0C1A31

8. Contour Mode Options

9. Satin Mode Options

Blend Mode Color #3C4252

10. Here’s the final result.
Variations of the above modes are entirely up to you.
Explore to find out…

11. Here’s another variation.