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Neutral As of Apr 8, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Apr 08, 2026

Global energy markets experienced significant volatility on April 8, 2026, as crude oil prices plunged following a two-week US-Iran ceasefire agreement, while major equity markets surged in response. Shipping rates remained elevated due to ongoing Strait of Hormuz disruptions, and OPEC+ announced a modest production increase for May.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 91.68 -17.62
WTI NYMEX $/bbl 92.92 -17.70

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 300.59 -29.93
ULSD Heating Oil NYMEX c/gal 320.00 -15.00

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.72 -0.15
TTF (Europe) ICE EUR/MWh 44.30 -9.00

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 378.14 +1.25
US Mont Belvieu Ethane NYMEX $/gal 0.35 +0.01

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 34.57 -5.05
WTI/Brent Spread $/bbl 1.24 +0.08

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 150,000 80,000
Suezmax, 130 WAF-UKC 85,000 55,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 60,000 35,000
MR, 37 TC2 (UKC-USAC) 45,000 28,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 90,000 127.0 112.0
Aframax, 115 45,000 75.0 62.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 25,000 Volatile 35,000
174M3 MEGI (Atlantic) 32,000 Firm 40,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 750.0 650.0 850.0
Rotterdam 730.0 630.0 830.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 38,000
MGC, 22 (NWE-USGC) 25,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 69.34 69.36
California Carbon Allowances (Spot) USD/ton 38.50 38.60

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 6,782.81 +165.96
Dow Jones Industrial Average United States 47,909.92 +1,325.46
Pair Region Last Δ Day
EUR/$ European Union 1.17 0.00
USD/JPY Japan 152.30 +0.15

Developments

  • Oil Prices Plunge as US-Iran Ceasefire Agreement Announced

    Crude oil futures experienced a sharp decline on April 8, 2026, with Brent and WTI falling significantly after the United States and Iran agreed to a two-week ceasefire, easing immediate geopolitical tensions in the Middle East.

    The Times of India · Apr 8, 2026

  • OPEC+ to Increase Oil Output by 206,000 b/d Starting May 2026

    OPEC+ nations confirmed plans to raise their collective oil production by 206,000 barrels per day, effective May 2026, as they continue to unwind previous voluntary adjustments amid a steady global economic outlook and low oil inventories.

    Enerdata · Apr 8, 2026

  • Strait of Hormuz Shipping Disruption Expected to Persist Despite Ceasefire

    Analysts warn that a two-week US-Iran ceasefire is unlikely to fully restore normal container shipping operations through the Strait of Hormuz, with supply chain disruptions and elevated freight rates expected to continue due to ongoing security risks.

    Xeneta · Apr 7, 2026

  • US Henry Hub Natural Gas Prices Decline Amid Bearish Weather Outlook

    US Henry Hub natural gas futures fell on April 8, 2026, influenced by a bearish weather outlook and a decline in the broader energy complex, despite some support from strong LNG feedgas demand.

    Liquidity Energy · Apr 8, 2026

  • VLCC Time Charter Rates Soar to Decades-High Levels

    VLCC time charter rates have surged to unprecedented levels, with some one-year agreements reaching $105,000 per day, reflecting a tight compliant VLCC market driven by robust crude demand, longer trade routes, and elevated geopolitical risk premiums.

    gCaptain · Feb 24, 2026

  • US Container Imports Ease in April Amid Trade Uncertainty

    U.S. containerized imports declined in April 2026 compared to March, with West Coast ports regaining market share, as trade uncertainty and persistent geopolitical risks continued to impact global supply chains.

    Descartes · Apr 7, 2026