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Bullish As of Jun 10, 2026 16:00 ET Download PDF

Daily Energy & Shipping Briefing — Jun 10, 2026

Global energy markets were significantly impacted on June 10, 2026, by escalating geopolitical tensions in the Middle East, particularly concerning the Strait of Hormuz. Crude oil prices surged, while natural gas and refined products also saw increases. Shipping markets faced disruptions and higher rates due to the ongoing conflict and an early peak season for container freight.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 93.10 +1.65
WTI NYMEX $/bbl 93.68 +1.78

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 310.99 +8.88

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.19 +0.05

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 412.04 +2.62

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 37.52 +2.08

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 48,000 42,000
Suezmax, 130 WAF-UKC 35,000 30,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 30,000 27,000
MR, 37 TC2 22,000 20,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 58,000 132.0 118.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 18,000 Firm 35,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 750.0 683.0 850.0
Rotterdam 730.0 660.0 830.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 45,000

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 7,266.99 -119.66
Dow Jones Industrial Average United States 49,918.78 -953.33
Pair Region Last Δ Day
EUR/$ European Union 1.15 -0.01
USD/JPY Japan 155.00 +0.20

Developments

  • Crude Oil Prices Climb to $92 as Fresh Hostilities Break Out in Middle East

    Crude oil prices rose on Wednesday as investors reacted to escalating geopolitical tensions in the Middle East and growing concerns over potential disruptions to global energy supplies. Brent crude futures climbed 0.6% to around $92 per barrel, while U.S. West Texas Intermediate (WTI) crude gained the same to trade near $88.8 per barrel.

    HDFCSky · Jun 10, 2026

  • Propane Export Demand Widens Price Gap Between Mont Belvieu and Conway

    Propane prices at Mont Belvieu in Texas have grown increasingly tethered to U.S. Gulf Coast exports as the conflict in Iran has choked off traditional supply routes overseas. This has driven the Conway hub to trade at a notable discount to Mont Belvieu.

    OPIS · Jun 10, 2026

  • Strait of Hormuz LNG transit near zero as U.S.-Iran tensions intensified

    Nine total LNG shipments exported from the Persian Gulf since February 28, versus a pre-conflict rate of three per day; no commercial crossings recorded on the morning of June 10 as U.S.-Iran tensions intensified.

    LNG Global · Jun 10, 2026

  • Early peak season surge tightens Asia ocean freight markets

    Peak season has arrived earlier than expected and is putting global container supply chains under strain, with tightening capacity, rising rates, and growing competition for space across both Asia–US and Asia–Europe trades. This is driven by geopolitical risk, rising fuel costs, and shipper behavior.

    Metro Global · Jun 9, 2026

  • S&P 500 Sinks on Fear of War and Hot Inflation

    The S&P 500 fell 1.6% Wednesday to end the day at 7,266.99, as US equities were pressured by heightened geopolitical tensions with President Trump announcing potential renewed strikes on Iran. May's Consumer Price Index also reached a three-year high of 4.2%, fueling inflation fears.

    AP News / Morgan Stanley · Jun 10, 2026