Daily Energy & Shipping Briefing — Apr 10, 2026
Global energy markets were dominated by escalating geopolitical tensions in the Middle East, pushing crude oil prices near $100 a barrel despite a ceasefire. Shipping traffic through the Strait of Hormuz remained severely disrupted, impacting tanker and LPG freight rates. European carbon prices held steady, while US equities showed mixed performance following inflation data.
Energy Prices
Crude
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| Brent ICE | $/bbl | 96.75 | +0.83 |
| WTI NYMEX | $/bbl | 98.91 | +1.04 |
Products
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline NYMEX | c/gal | 331.23 | -3.92 |
| Heating Oil NYMEX | c/gal | 300.00 | +5.00 |
| Gasoil ICE | $/mt | 900.00 | +5.00 |
Natural Gas
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Henry Hub NYMEX | $/MMBtu | 3.66 | -0.14 |
Natural Gas Liquids
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Mont Belvieu Propane NYMEX | $/mt | 378.14 | +1.25 |
Price Spreads
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline/Brent Crack Spread | $/bbl | 20.00 | -0.15 |
Shipping Rates & Bunkers
Dirty Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| VLCC, 270 | AG-FE | 60,000 | 45,000 |
| Suezmax, 150 | WAF-UKC | 45,000 | 38,000 |
| Aframax, 80 | Cross-Med | 35,000 | 28,000 |
Clean Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| LR2, 75 | AG-FE | 30,000 | 25,000 |
| LR1, 55 | TC5 | 25,000 | 20,000 |
| MR, 37 | TC2 | 20,000 | 16,000 |
Time Charter & Asset Values
| Vessel | 1yr ($/day) | Newbuild ($M) | 5yr ($M) |
|---|---|---|---|
| VLCC, 200+ | 49,000 | 127.0 | 112.0 |
| Suezmax, 150 | 38,000 | 85.0 | 75.0 |
LNG Vessels ($/day)
| Type | Spot | Sentiment | 52wk Avg |
|---|---|---|---|
| 160M3 Tri-fuel diesel electric (East) | 13,000 | Flat | 30,231 |
| 174M3 TFDE (West) | 15,000 | Stable | 35,000 |
Bunkers ($/mt)
| Port | VLSFO | HSFO | MGO |
|---|---|---|---|
| Singapore | 747.0 | 665.1 | 850.0 |
| Rotterdam | 730.0 | 640.0 | 830.0 |
LPG (Spot TCE, $/day)
| VLGC, 44 (AG-Japan) | 80,000 |
| VLGC, 44 (USG-Japan) | 95,000 |
Carbon Markets
| Instrument | Unit | Bid | Offer |
|---|---|---|---|
| European Union Allowances (Spot) | EUR/ton | 72.84 | 72.86 |
Equities & Currencies
| Index | Region | Last | Δ Day |
|---|---|---|---|
| S&P 500 | United States | 6,816.89 | -7.77 |
| Dow Jones Industrial Average | United States | 47,916.57 | -269.23 |
| Nasdaq Composite | United States | 22,902.89 | +80.48 |
| Pair | Region | Last | Δ Day |
|---|---|---|---|
| EUR/$ | European Union | 1.17 | 0.00 |
Developments
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Crude oil prices near $100 as Iran war tensions escalate despite ceasefire
Brent crude futures rose to $96.75 a barrel and WTI to $98.91 a barrel on April 10, 2026, as escalating tensions in the Middle East, despite a ceasefire, kept markets on edge.
The Economic Times · Apr 10, 2026
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Ship traffic through Strait of Hormuz severely disrupted, operating at less than 10% of normal levels
Disruptions in the Strait of Hormuz continued to impact global shipping, with traffic operating at significantly reduced levels, contributing to supply tightness and supporting oil prices.
Reuters · Apr 10, 2026
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European carbon prices hover near Eur73/mt as policy jitters ease
EU Allowances traded at Eur72.85/metric ton on April 10, 2026, with prices increasing slightly in the week as concerns about ETS policy eased following proposed Market Stability Reserve amendments.
S&P Global · Apr 10, 2026
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Container freight rates see dramatic increases on some trades, driven by market sentiment and emergency bunker surcharges
Ocean container freight rates experienced significant increases, particularly on Transpacific and Transatlantic routes, attributed to market sentiment related to the Middle East conflict and global emergency bunker surcharges.
Xeneta · Apr 10, 2026
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US stock markets mixed; S&P 500 and Nasdaq rise on tech gains after inflation data, Dow falls
The S&P 500 and Nasdaq Composite advanced on April 10, 2026, driven by technology stocks after March inflation data met expectations, while the Dow Jones Industrial Average declined.
Barchart.com / The Times of India · Apr 10, 2026
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Mont Belvieu propane prices influenced by international demand as Iran conflict chokes off traditional supply routes
Propane prices at Mont Belvieu were increasingly tied to U.S. Gulf Coast exports, with the Iran conflict disrupting nearly 40% of global LPG export supply and widening the price gap with the Conway hub.
OPIS · Jun 10, 2026
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EU Commission publishes first official quarterly CBAM certificate price at €75.36/tCO2
The European Commission announced the first official quarterly Carbon Border Adjustment Mechanism (CBAM) certificate price at €75.36/tCO2 on April 7, 2026, marking a significant milestone for the world's first carbon border tax.
Homaio · Apr 09, 2026
