Daily Energy & Shipping Briefing — Apr 29, 2026
Global energy markets were dominated by the escalating US-Iran conflict, pushing Brent crude prices significantly higher, with the Strait of Hormuz remaining effectively shut. The Federal Reserve held interest rates steady amid inflation concerns, while equity markets saw mixed reactions to tech earnings.
Energy Prices
Crude
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| Brent ICE | $/bbl | 111.27 | +6.89 |
Products
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline NYMEX | c/gal | 213.67 | +2.83 |
Natural Gas
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Henry Hub NYMEX | $/MMBtu | 2.56 | +0.02 |
Natural Gas Liquids
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Mont Belvieu Propane NYMEX | $/mt | 443.57 | +14.17 |
Price Spreads
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline/Brent Crack Spread | $/bbl | 23.19 | -0.15 |
Shipping Rates & Bunkers
Dirty Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| VLCC, 270 | AG-FE | 40,300 | 39,700 |
Clean Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| LR2, 75 | AG-FE | 20,500 | 26,400 |
Time Charter & Asset Values
| Vessel | 1yr ($/day) | Newbuild ($M) | 5yr ($M) |
|---|---|---|---|
| VLCC, 200+ | 105,000 | 127.0 | 112.0 |
LNG Vessels ($/day)
| Type | Spot | Sentiment | 52wk Avg |
|---|---|---|---|
| 160M3 Tri-fuel diesel electric (East) | 13,000 | Flat | 30,231 |
Bunkers ($/mt)
| Port | VLSFO | HSFO | MGO |
|---|---|---|---|
| Singapore | 740.0 | 660.0 | 1,400.0 |
LPG (Spot TCE, $/day)
| VLGC, 44 (AG-Japan) | 34,643 |
Carbon Markets
| Instrument | Unit | Bid | Offer |
|---|---|---|---|
| European Union Allowances (Spot) | EUR/ton | 72.50 | 72.60 |
Equities & Currencies
| Index | Region | Last | Δ Day |
|---|---|---|---|
| S&P 500 | United States | 7,135.95 | -2.85 |
| Pair | Region | Last | Δ Day |
|---|---|---|---|
| EUR/$ | European Union | 1.11 | -0.01 |
Developments
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Oil Prices On April 29: Brent Crude Prices Pause Near $111 Amid Fragile US-Iran Ceasefire Talks
Oil prices paused after a sharp climb, as markets tracked uncertain diplomatic signals around the Iran conflict and the fate of the Strait of Hormuz — a chokepoint that remains effectively shut. Brent crude hovered near $111 a barrel after gaining roughly 2.8% in the previous session.
NDTV Profit · Apr 29, 2026
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Oil price today (April 29, 2026): Brent oil jumps above $119 a barrel, highest since 2022 ahead of Fed call
Crude prices surged to their highest levels since 2022 on Wednesday while investors awaited the Federal Reserve's policy decision later in the day. Brent crude for June delivery jumped 7.3 per cent to $119.34 a barrel.
The Times of India · Apr 29, 2026
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Oil price tops $126 a barrel after Trump warns Iran blockade could last 'months'
The global oil price hit $126 a barrel on Thursday, its highest level since 2022, after Donald Trump said the US blockade of Iranian ports could last for months and peace talks remained stalled.
The Guardian · Apr 30, 2026
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FOMC Holds Today · Mag 7 Report Tonight — The Most Consequential Hours of 2026
The FOMC announced a 100% hold on interest rates, with all eyes on Powell's final press conference. Major tech companies Alphabet, Meta, Microsoft, and Amazon were scheduled to report earnings after the close.
Capital Street FX · Apr 29, 2026
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Weaker demand pressures Singapore April bunker prices
Conventional bunker prices in Singapore trended down in April as sellers kept prices competitive to secure deals amid weaker downstream demand and prolonged backwardation. Average prices for very-low sulphur fuel oil (VLSFO) in April stood at $746.98/t delivered on board.
Argus Media · May 05, 2026
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VLCC Charter Rates Soar - “We are in unprecedented times" say CEO
Frontline plc entered into one-year time charter-out agreements for seven of its VLCCs, with charters commencing from late-January to April 2026 at a rate of $76,900 per day per vessel.
gCaptain · Jan 23, 2026
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European carbon prices hover near Eur73/mt as policy jitters ease
European carbon prices increased slightly in the week ended April 10, following news of a ceasefire in the Middle East. Prices also came under brief pressure from provisional estimates showing only a slight decline in total CO2 emissions under the EU Emissions Trading System in 2025.
S&P Global · Apr 10, 2026
