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Bullish As of Apr 6, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Apr 06, 2026

Global energy markets on April 6, 2026, were characterized by extreme volatility and elevated crude oil prices, driven by escalating geopolitical tensions in the Middle East and concerns over the Strait of Hormuz. Despite OPEC+ efforts to increase supply and ongoing ceasefire talks, market stress remained high, pushing benchmarks like Brent and WTI well above $100/bbl.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 109.90 +0.87
WTI NYMEX $/bbl 112.41 +0.87

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 330.82 +2.02
Heating Oil NYMEX c/gal 320.00 +1.95

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.81 +0.01
TTF ICE EUR/MWh 35.50 +0.50

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 355.65 +3.91

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 29.04 -0.02
Heating Oil/Brent Crack Spread $/bbl 24.50 +0.10

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 150,000 91,700
Suezmax, 130 WAF-UKC 85,000 65,000
Aframax, 80 Caribs-USGC 60,000 45,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 35,000 28,000
MR, 37 TC2 (UKC-USAC) 28,000 22,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 105,000 128.5 110.0
Suezmax, 130 70,000 85.0 75.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 15,000 Flat 30,231
160M3 Tri-fuel diesel electric (West) 14,500 Flat 29,500

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 750.0 600.0 850.0
Rotterdam 760.0 610.0 860.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,643
VLGC, 44 (USGC-Japan) 42,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 71.60 71.70

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 3,855.36 +15.36
Dow Jones Industrial Average United States 39,000.00 +165.00
Pair Region Last Δ Day
EUR/$ European Union 1.16 -0.01
$/JPY Japan 152.00 +0.20

Developments

  • Oil Price Surge Above $110 Signals Deep Market Stress as War Risks Persist

    Crude benchmarks remained above $110 per barrel in early April 2026, driven by escalating conflict in the Middle East and supply disruptions, despite OPEC+ efforts to increase production.

    Polyestertime · Apr 6, 2026

  • U.S. Stocks Drift Higher as Trump's Iran Deadline Looms

    U.S. stocks saw hesitant gains on Monday, April 6, 2026, as investors awaited developments regarding President Trump's deadline to bomb Iranian power plants, contributing to oil price volatility.

    Associated Press · Apr 6, 2026

  • European Carbon Prices Hold Above €70/t in April Amid ETS Reforms

    European carbon allowance futures (December 2026 contract) remained above €70/t in the first week of April, influenced by the European Commission's proposed minimal changes to the Market Stability Reserve.

    GMK Center · Apr 9, 2026

  • OPEC+ Approves 206,000 BPD Production Increase Starting April 2026

    OPEC+ announced a production increase of 206,000 barrels per day beginning April 2026, an attempt to stabilize oil prices amidst ongoing market tightness and geopolitical risks.

    FX Empire · Apr 6, 2026

  • VLCC Charter Rates Soar to Unprecedented Levels, DHT Locks in $105,000/day Time Charter

    VLCC charter rates reached six-figure territory in early 2026, with DHT Holdings securing a one-year time charter at $105,000 per day, reflecting a tight compliant VLCC market driven by strong demand and geopolitical risk premiums.

    gCaptain · Feb 24, 2026