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Bullish As of Apr 24, 2026 16:00 ET Download PDF

Daily Energy & Shipping Briefing — Apr 24, 2026

Global energy markets on April 24, 2026, were dominated by geopolitical tensions in the Middle East, pushing Brent crude prices above $105/bbl and driving tanker and LPG freight rates to multi-year highs due to Strait of Hormuz disruptions. Meanwhile, US natural gas prices fell to 19-month lows, and major US equity indices closed at record highs, led by a tech surge.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 105.50 +2.00

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 300.00 +5.00

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.54 -0.11

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 427.37 -5.21

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 20.50 -0.15

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 467,408 300,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 35,000 28,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 105,000 124.8 115.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 130,000 Firm 90,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 700.0 600.0 800.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 75,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 69.34 69.36

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,165.08 +55.68
Pair Region Last Δ Day
EUR/$ European Union 1.18 -0.01

Developments

  • Oil prices surge as US-Iran conflict and Strait of Hormuz blockade persist

    Brent crude climbed above $105/bbl as geopolitical tensions in the Middle East continued to disrupt Gulf crude production and keep the Strait of Hormuz largely blocked, driving up global oil prices.

    Reuters/Bloomberg · Apr 24, 2026

  • VLCC and LPG freight rates hit multi-year highs amid Panama Canal congestion and Hormuz disruptions

    Tanker and LPG freight markets saw significant rate increases, with VLCC and VLGC rates reaching multi-year highs, exacerbated by Panama Canal congestion and the ongoing Middle East conflict impacting vessel availability.

    Baltic Exchange/Argus Media · Apr 24, 2026

  • US Henry Hub natural gas prices fall to 19-month lows

    US natural gas futures at Henry Hub dropped to $2.52/MMBtu, marking a 19-month low, as mild spring temperatures weighed on demand and storage injections increased.

    AGA/CME Group · Apr 24, 2026

  • S&P 500 and Nasdaq close at record highs, led by tech sector strength

    Major US equity indices, including the S&P 500 and Nasdaq Composite, reached new record highs, driven by strong performance in technology stocks, particularly after Intel's robust earnings report.

    TheStreet/Yahoo Finance · Apr 24, 2026

  • Global urea supply shock hits fertilizer markets due to Strait of Hormuz blockage

    Fertiliser supplies are facing a 'global urea supply shock' as the blockage of the Strait of Hormuz disrupts around one-third of global traded urea and other raw materials.

    The Guardian · Apr 24, 2026

  • US Consumer Sentiment hits record low in April amid inflation concerns

    The University of Michigan's Consumer Sentiment index recorded its lowest level since 1952, with higher prices, particularly for gasoline, threatening to derail progress on inflation.

    TheStreet · Apr 24, 2026