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Bullish As of Apr 7, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Apr 07, 2026

Global energy markets on April 7, 2026, were largely driven by escalating geopolitical tensions in the Middle East, which kept crude oil and tanker freight rates significantly elevated. Natural gas prices, however, faced bearish pressure from ample storage and mild weather forecasts, while equity markets saw a late-day rally on hopes of a de-escalation in the Iran conflict.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 111.31 +2.50

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 331.23 -3.87

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.87 +0.06

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 450.00 +5.00

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 27.81 -5.08

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 360,000 200,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 28,000 24,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 105,000 129.0 138.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 13,000 Flat 30,231

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 508.0 425.0 585.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 35,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 71.68 71.70

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 6,980.00 +6.98
Pair Region Last Δ Day
EUR/$ European Union 1.16 0.00

Developments

  • Brent Crude Prices Remain Elevated Amid Geopolitical Tensions and Strait of Hormuz Concerns

    Brent crude oil prices stabilized around $111.31/bbl on April 7, 2026, remaining near multi-year highs due to ongoing geopolitical tensions in the Middle East and concerns over the Strait of Hormuz. The market closely watched for developments regarding potential US actions against Iran.

    Pintu News / RoboForex · Apr 7, 2026

  • US EIA Trims 2026 Natural Gas Price Forecasts on High Storage Levels

    The US Energy Information Administration (EIA) on April 7, 2026, lowered its natural gas spot price forecasts for the second and third quarters of 2026. This adjustment was attributed to expectations of Henry Hub prices remaining near seasonal norms, supported by near-average gas inventories.

    S&P Global Platts / ICIS · Apr 7, 2026

  • European Carbon Prices Hold Above €70/t as Market Awaits ETS Reforms

    European carbon emission allowances (EUAs) traded calmly around €71.6-€71.7/t on April 6-7, 2026, following the Easter holidays. The market was anticipating further developments regarding the Middle East conflict and updated benchmarks for free allocation in the EU ETS.

    GMK Center / advantag.de · Apr 7, 2026

  • VLCC Freight Rates Skyrocket and Secondhand Values Exceed Newbuilds Amid Middle East Unrest

    Geopolitical risks, particularly the blockade of the Strait of Hormuz, continued to drive VLCC freight rates to historic highs in early April 2026. This surge in demand for immediate tonnage led to the unusual situation where secondhand VLCC prices surpassed those of newbuilds.

    iMarine / Horizon Offshore Services · Mar 20, 2026

  • S&P 500 Rallies on Hopes of De-escalation in Iran Conflict

    US stock markets, including the S&P 500, experienced significant intraday volatility on April 7, 2026, but ultimately rallied to close with a modest gain. This turnaround was spurred by reports that President Trump was holding off on threatened strikes against Iran for two weeks, easing immediate geopolitical fears.

    Pittsburgh Post-Gazette / 24/7 Wall St. · Apr 7, 2026