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Neutral As of Apr 22, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Apr 22, 2026

Energy markets presented a mixed picture on April 22, 2026, with crude oil prices rising above $100 per barrel amid heightened geopolitical tensions in the Strait of Hormuz, which also propelled dirty tanker rates and secondhand VLCC values. Conversely, US natural gas prices continued their decline, reaching multi-month lows due to ample supply. Meanwhile, major US equity markets, including the S&P 500, closed at new all-time highs.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 100.07 +1.59
WTI NYMEX $/bbl 91.18 +1.51

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 286.23 +1.29

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.72 +0.03

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 380.00 +1.00

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 20.15 -1.05

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 150,000 100,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 25,000 22,000

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 30,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 747.0 665.1 850.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,643

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 70.00 70.05

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,137.90 +73.89
Pair Region Last Δ Day
EUR/$ European Union 1.17 0.00

Developments

  • Oil prices rise on Wednesday amid Strait of Hormuz tensions

    Brent crude surpassed $100/bbl and WTI rose, recovering earlier losses, after reports of gunfire on container ships in the Strait of Hormuz heightened geopolitical tensions and supply concerns.

    QNA · Apr 22, 2026

  • S&P 500 Hits New All-Time Closing High!

    The S&P 500 rallied 1% to a new all-time closing high of 7,137.90, driven by a late-day surge and strong performance in large-cap growth stocks.

    AP News / Chart This with Dave Keller · Apr 22, 2026

  • Henry Hub Prompt-Month Prices Fall to October 2024 Levels

    US Henry Hub natural gas prompt-month futures prices fell to $2.722/MMBtu on April 22, reaching levels last seen in late 2024, despite growing LNG feedgas demand and new liquefaction capacity coming online.

    Missouri Public Service Commission / American Gas Association · Apr 22, 2026

  • VLCC Secondhand Prices Surge Up to 35% Premium Amid Middle East Tensions

    Geopolitical risks and the effective closure of the Strait of Hormuz have driven five-year-old VLCC secondhand prices to exceed newbuild costs, with buyers paying significant premiums for immediate vessel availability.

    iMarine / Seatrade Maritime News / Signal Ocean · Apr 22, 2026

  • Global LNG Supply Set to Jump in 2026, Limiting Prices and Spurring Demand

    Global liquefied natural gas output is projected to significantly increase in 2026, easing market tightness and dampening prices, which is expected to stimulate demand, particularly from Asian importers.

    Reuters / Kpler · Apr 22, 2026

  • President Trump Invokes DPA for LNG Infrastructure Expansion

    In April 2026, President Donald Trump invoked Section 303 of the Defense Production Act to classify domestic natural gas and LNG infrastructure expansion as essential to national security, authorizing financial incentives for new projects.

    White & Case LLP · Apr 22, 2026