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Bullish As of Apr 20, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Apr 20, 2026

Global energy markets surged on Monday, April 20, 2026, as renewed geopolitical tensions in the Middle East, particularly around the Strait of Hormuz, sent crude oil prices sharply higher. US stocks, however, saw a slight pullback from recent record highs, while natural gas prices showed mixed movements.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 96.49 +6.11
WTI NYMEX $/bbl 90.38 +6.53

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 300.00 +15.00
Heating Oil NYMEX c/gal 436.43 +20.00

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.71 +0.04

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 398.93 +7.87

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 29.51 +0.19

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 85,000 55,000
Suezmax, 130 WAF-UKC 65,000 40,000
Aframax, 80 Carib-USGC 50,000 30,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 45,000 30,000
LR1, 55 TC1 35,000 25,000
MR, 37 TC2 28,000 20,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 60,000 130.0 115.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 150,000 Volatile 80,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 1,150.0 950.0 1,900.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 70,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 69.90 70.10

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,109.14 -16.92
Pair Region Last Δ Day
EUR/$ European Union 1.18 0.00

Developments

  • Oil prices jump 6% as US-Iran tensions flare over Strait of Hormuz

    Crude oil prices surged over 6% on Monday, with Brent nearing $97/bbl and WTI over $90/bbl, as geopolitical tensions escalated around the Strait of Hormuz following accusations of ceasefire violations between the U.S. and Iran.

    The Economic Times / Gulf News · Apr 20, 2026

  • S&P 500 slips from record high as oil surge weighs on market sentiment

    U.S. stocks gave back some gains from their recent record-breaking rally, with the S&P 500 falling 0.2% after the United States seized an Iranian-flagged cargo vessel, contributing to market uncertainty.

    Associated Press / KVUE · Apr 20, 2026

  • Strait of Hormuz blockade continues, exacerbating global fuel crisis

    Shipping traffic through the critical Strait of Hormuz remained largely blocked by Iran, with a simultaneous U.S. naval blockade of Iranian ports in effect since April 13, leading to severe disruptions in global oil and gas flows.

    Wikipedia · Apr 20, 2026

  • Rising bunker prices force slower vessel speeds across global fleet

    Operational behavior in container shipping shifted due to sharply rising bunker fuel costs, with average vessel speeds declining between late 2025 and mid-April 2026, as VLSFO in Singapore reached over $1,200 per tonne.

    AXSMarine · Apr 20, 2026

  • Mont Belvieu propane prices soar amid strong export demand due to Iran war

    Mont Belvieu propane prices saw a significant increase, pulling ahead of Conway, Kansas, as concerns over Middle East LPG flow disruptions through the Strait of Hormuz boosted international demand for U.S. cargoes.

    RBN Energy · Apr 20, 2026

  • US container imports ease in April amidst trade uncertainty and geopolitical risks

    U.S. containerized imports declined slightly in April 2026, reflecting a moderation in demand and ongoing policy uncertainty, with Middle East tensions and re-escalated EU-U.S. trade tensions contributing to a complex global shipping environment.

    Descartes · Apr 07, 2026