Daily Energy & Shipping Briefing — Apr 28, 2026
Global energy markets on April 28, 2026, were dominated by the ongoing geopolitical tensions surrounding the Strait of Hormuz, which continued to keep crude oil prices elevated. The Trump administration's focus on conventional energy sources further shaped the market, while equity markets showed mixed signals amid a busy earnings week.
Energy Prices
Crude
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| Brent ICE | $/bbl | 111.26 | +2.96 |
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 | 2.80 | +0.01 |
Natural Gas Liquids
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Mont Belvieu Propane NYMEX | $/mt | 430.00 | -0.52 |
Price Spreads
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline/Brent Crack Spread | $/bbl | 14.74 | +0.10 |
Shipping Rates & Bunkers
Dirty Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| VLCC, 270 | AG-FE | 300,000 | 350,000 |
Clean Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| LR2, 75 | AG-FE | 50,000 | 45,000 |
Time Charter & Asset Values
| Vessel | 1yr ($/day) | Newbuild ($M) | 5yr ($M) |
|---|---|---|---|
| VLCC, 200+ | 90,000 | 128.5 | 130.0 |
LNG Vessels ($/day)
| Type | Spot | Sentiment | 52wk Avg |
|---|---|---|---|
| 160M3 Tri-fuel diesel electric (East) | 150,000 | Strong | 100,000 |
Bunkers ($/mt)
| Port | VLSFO | HSFO | MGO |
|---|---|---|---|
| Singapore | 750.0 | 650.0 | 850.0 |
LPG (Spot TCE, $/day)
| VLGC, 44 (AG-Japan) | 80,000 |
Carbon Markets
| Instrument | Unit | Bid | Offer |
|---|---|---|---|
| European Union Allowances (Spot) | EUR/ton | 72.50 | 72.55 |
Equities & Currencies
| Index | Region | Last | Δ Day |
|---|---|---|---|
| S&P 500 | United States | 7,160.00 | +6.97 |
| Pair | Region | Last | Δ Day |
|---|---|---|---|
| EUR/$ | European Union | 1.17 | +0.01 |
Developments
-
Oil prices surge as Strait of Hormuz remains effectively closed amid US-Iran conflict
Geopolitical tensions in the Middle East, particularly the ongoing US-Iran conflict and the effective closure of the Strait of Hormuz, continued to drive crude oil prices higher. This disruption significantly impacted global energy supplies and tanker traffic.
Reuters · Apr 28, 2026
-
Trump administration blocks US wind energy projects, redirects funds to oil and gas
The Trump administration announced it blocked two permitted US wind energy projects, agreeing to pay millions in refunds if reinvested in oil and gas. This move was framed as promoting US energy security and affordability through conventional solutions.
The Guardian · Apr 28, 2026
-
S&P 500 inches higher, with tech stocks leading gains ahead of busy earnings week
The S&P 500 saw a slight increase, with technology stocks performing strongly and some hitting 52-week highs. Investors cautiously awaited a busy week of megacap earnings reports and economic data.
Kitco News · Apr 27, 2026
-
UAE quits OPEC in 'pivotal moment' for oil producing group
The United Arab Emirates announced its departure from OPEC, a move that could significantly reshape the dynamics and influence of the oil-producing cartel. This decision comes amid broader shifts in global energy policy.
The Guardian · Apr 28, 2026
-
US Navy awards $1.1B contract to operate oceanographic survey ships
The U.S. Navy awarded Ocean Ships, Inc. a contract worth over $1.1 billion to operate seven oceanographic survey ships through 2032. These vessels are crucial for gathering data that underpins submarine navigation and undersea mapping.
The Defence Blog · Apr 28, 2026
-
European carbon prices remain above €70/t, driven by market reforms and geopolitical tensions
Futures prices for CO2 emission allowances in Europe continued to trade above €70 per tonne. The market reacted to proposed reforms to the EU ETS and ongoing geopolitical uncertainties.
S&P Global · Apr 10, 2026
-
Natural gas futures remain subdued in the US despite global tensions, supported by healthy storage
Henry Hub natural gas futures prices remained below $3 per MMBtu, with sustained production and healthy storage inventories weighing on prices. This contrasts with elevated global natural gas markets.
American Gas Association · Apr 30, 2026
-
VLCC charter rates continue to see historic highs due to geopolitical risk and tight capacity
The Very Large Crude Carrier (VLCC) market experienced exceptional dislocation, with spot rates reaching levels rarely observed. This was driven by heightened geopolitical risk around the Strait of Hormuz and tight vessel capacity.
Horizon Offshore Services · Apr 2026
