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Neutral As of Jun 2, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Jun 02, 2026

Global energy markets on June 2, 2026, were characterized by continued volatility in crude oil prices, influenced by ongoing uncertainty surrounding U.S.-Iran negotiations and the potential reopening of the Strait of Hormuz. While oil prices eased slightly after Monday's surge, the S&P 500 reached new record highs, driven by the persistent AI-chip boom, creating a fragile risk sentiment across markets.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 95.04 +0.06
WTI NYMEX $/bbl 91.99 -0.17

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 314.43 +5.96

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.17 -0.01

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 413.06 -1.57

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 37.02 +2.44

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 40,300 39,700
Suezmax, 130 WAF-UKC 28,500 27,800
Aframax, 80 Carib-USGC 18,200 19,100

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 20,500 26,400
LR1, 55 AG-FE 17,800 21,300
MR, 37 TC2 (UKC-USAC) 15,100 16,900

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 49,000 127.0 112.0
Suezmax, 150 32,000 85.0 75.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 13,000 Flat 30,231
174M3 TFDE (West) 15,000 Flat 35,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 508.0 425.0 585.0
Rotterdam 525.0 435.0 600.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,643
VLGC, 44 (USGC-Japan) 42,100

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 7,609.78 +9.82
Pair Region Last Δ Day
EUR/$ European Union 1.16 0.00

Developments

  • Oil Prices Ease to $94 Amid Iran Uncertainty, Markets Wary

    Oil prices edged lower on Tuesday after a sharp rally in the previous session, though both global benchmarks remained elevated as investors continued to assess the impact of Middle East tensions on energy supplies.

    HDFC Sky · Jun 2, 2026

  • U.S. LNG flows fall to a four-month low in June 2026

    U.S. LNG flows dropped to 15.7 Bcf/d on Tuesday, a four-month low, due to maintenance shutdowns at Golden Pass and Freeport LNG, pushing natural gas futures down.

    Inspenet · Jun 2, 2026

  • S&P 500 finishes above 7,600 for the first time as chip boom continues

    The S&P 500 closed above 7,600 for the first time ever, setting a new record high with a modest gain, driven by strength in the chip sector.

    TheStreet · Jun 2, 2026

  • Wood Mackenzie models three global LNG market scenarios as Iran conflict removes 20% of global supply

    New analysis outlines three distinct outcomes for global LNG markets following the closure of the Strait of Hormuz, which has removed over 80 million tonnes per annum of LNG from world markets.

    GlobeNewswire · Jun 2, 2026

  • Oil prices today: Crude rises amid uncertainty over US-Iran negotiations and Hormuz reopening

    Oil prices increased slightly on Tuesday amid ongoing uncertainty over talks between the United States and Iran and speculation around the potential reopening of the Strait of Hormuz.

    The Times of India · Jun 2, 2026

  • Risk sentiment turning fragile as surging oil prices, renewed U.S.–Iran uncertainty and a powerful AI-driven stock rally pull markets in opposite directions.

    Investors are weighing record highs in Nvidia-led equities against rising Middle East tensions, elevated inflation risks, and growing pressure on global energy markets.

    Axon Markets Blog · Jun 2, 2026