Daily Energy & Shipping Briefing — Jun 01, 2026
Global energy markets opened Monday with a bullish tone for crude oil, as escalating geopolitical tensions in the Middle East, including intensified Israeli attacks in Lebanon and US-Iran strikes, sent Brent prices surging over 4%. Equity markets, however, largely shrugged off the oil price concerns, with major US indices reaching new record highs. Natural gas prices saw a decline, influenced by warm weather forecasts and production stalls.
Energy Prices
Crude
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| Brent ICE | $/bbl | 94.98 | +3.83 |
| WTI NYMEX | $/bbl | 90.29 | +2.93 |
Products
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline NYMEX | c/gal | 280.00 | +5.00 |
| Heating Oil NYMEX | c/gal | 320.00 | +4.50 |
Natural Gas
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Henry Hub NYMEX | $/MMBtu | 3.19 | -0.09 |
| TTF (Europe) ICE | $/MMBtu | 15.70 | -0.20 |
Natural Gas Liquids
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| US Mont Belvieu Propane NYMEX | $/mt | 439.55 | +23.49 |
| US Mont Belvieu Ethane NYMEX | $/gal | 0.35 | +0.01 |
Price Spreads
| Instrument | Unit | Last | Δ Day |
|---|---|---|---|
| RBOB Gasoline/Brent Crack Spread | $/bbl | 22.62 | -1.73 |
| WTI/Brent Spread | $/bbl | -4.69 | +0.90 |
Shipping Rates & Bunkers
Dirty Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| VLCC, 270 | AG-FE | 75,000 | 70,000 |
| Suezmax, 130 | WAF-UKC | 48,000 | 45,000 |
| Aframax, 80 | Carib-USGC | 32,000 | 30,000 |
Clean Tanker (Spot TCE, $/day)
| Vessel | Route | Spot TCE | Avg YTD |
|---|---|---|---|
| LR2, 75 | AG-FE | 30,000 | 28,000 |
| LR1, 55 | AG-Japan | 25,000 | 23,000 |
| MR, 37 | USGC-UKC | 22,000 | 20,000 |
Time Charter & Asset Values
| Vessel | 1yr ($/day) | Newbuild ($M) | 5yr ($M) |
|---|---|---|---|
| VLCC, 200+ | 55,000 | 122.5 | 105.0 |
| Suezmax, 130 | 40,000 | 85.0 | 75.0 |
LNG Vessels ($/day)
| Type | Spot | Sentiment | 52wk Avg |
|---|---|---|---|
| 160M3 Tri-fuel diesel electric (East) | 15,000 | Firm | 35,000 |
| 174M3 TFDE (Atlantic) | 18,000 | Firm | 40,000 |
Bunkers ($/mt)
| Port | VLSFO | HSFO | MGO |
|---|---|---|---|
| Singapore | 550.0 | 470.0 | 620.0 |
| Rotterdam | 570.0 | 490.0 | 640.0 |
LPG (Spot TCE, $/day)
| VLGC, 44 (AG-Japan) | 45,000 |
| VLGC, 44 (USGC-Japan) | 50,000 |
Carbon Markets
| Instrument | Unit | Bid | Offer |
|---|---|---|---|
| European Union Allowances (Spot) | EUR/ton | 69.34 | 69.36 |
| California Carbon Allowances (Spot) | USD/ton | 35.10 | 35.20 |
Equities & Currencies
| Index | Region | Last | Δ Day |
|---|---|---|---|
| S&P 500 | United States | 7,599.96 | +19.90 |
| Dow Jones Industrial Average | United States | 51,078.88 | +46.42 |
| Nasdaq Composite | United States | 27,086.81 | +114.19 |
| Pair | Region | Last | Δ Day |
|---|---|---|---|
| EUR/$ | European Union | 1.16 | +0.00 |
| USD/JPY | Japan | 155.20 | -0.15 |
Developments
-
Oil Prices Surge Over 4% as Middle East Tensions Escalate
Brent crude futures climbed sharply on Monday, settling at $94.98/bbl, as Israel intensified attacks in Lebanon and the US and Iran reportedly traded strikes, fueling concerns over supply disruptions in the Strait of Hormuz.
Reuters · Jun 1, 2026
-
Natural Gas Futures Decline Amid Warm Weather and Production Stalls
US Henry Hub natural gas futures fell 2.67% to $3.19/MMBtu on Monday, as forecasts for unseasonably warm weather and steady production levels weighed on prices.
FX Leaders · Jun 1, 2026
-
US Equities Hit New Records, Shrugging Off Oil Price Jumps
The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all closed at new all-time highs on Monday, with investors seemingly unconcerned by the rising crude oil prices.
The Washington Post · Jun 1, 2026
-
VLCC Newbuild Orders Surge in 2026, Dynacom Orders 12 Vessels
Dynacom placed an order for 12 VLCCs at the start of June for approximately $1.47 billion, contributing to a record year for new tanker orders and reflecting confidence in the long-term crude tanker market.
Seatrade Maritime News · Jul 1, 2026
-
VLGC Market Sees Volatility; Gas Carrier Rates Remain Firm
VLGC spot earnings reached record highs in late May before falling sharply through June, while overall gas carrier rates were reported to be holding strong at very firm levels.
Clarksons Research · Jun 1, 2026
-
US Retailers Frontload China Orders Ahead of Potential Tariff Hikes
US retailers have brought forward orders from China by four to six weeks to secure inventories for the Black Friday and Christmas holiday sales, anticipating potential tariff increases later in the year.
BusinessWorld · Jun 30, 2026
-
IMO Estimates 80 Naval Mines Still Threaten Strait of Hormuz Shipping
Despite a US-Iran peace framework, the IMO estimates that 80 naval mines continue to threaten shipping through the Strait of Hormuz, highlighting ongoing risks to global trade.
FreightWaves · Jun 30, 2026
-
US Gasoline Inventories Decline for 15th Consecutive Week
US gasoline inventories continued their downward trend, falling for the 15th consecutive week and remaining 5.6% below the five-year average as the summer driving season commenced.
Marex · May 29, 2026
