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Bearish As of Jun 11, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Jun 11, 2026

Global energy markets experienced significant volatility on June 11, 2026, as crude oil prices initially surged on news of Iran's closure of the Strait of Hormuz and US strikes, only to fall sharply later in the day on hopes of a de-escalation and a potential peace deal. Equities rallied on the improved geopolitical outlook, while natural gas and NGLs saw more modest movements.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 89.50 -5.90
WTI NYMEX $/bbl 86.16 -6.47

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 310.14 -0.85
Heating Oil NYMEX c/gal 295.50 -1.20

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.16 -0.11

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 408.38 -3.67

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 40.76 -0.15

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 22,100 21,500

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 20,500 26,400
LR1, 55 AG-FE 18,200 22,100
MR, 37 TC2 (UKC-USAC) 15,800 19,500

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 49,000 127.0 112.0
Suezmax, 130 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 (Atlantic) 15,000 Soft 35,500

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 508.0 425.0 585.0
Rotterdam 515.0 430.0 590.0

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 79.95 80.05

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,394.30 +127.31
Dow Jones Industrial Average United States 50,848.75 +929.97
Pair Region Last Δ Day
EUR/$ European Union 1.16 0.00
$/JPY Japan 156.20 +0.15

Developments

  • Oil prices surge then fall as Iran closes Strait of Hormuz, US strikes targets, then de-escalation hopes emerge

    Crude oil prices experienced extreme volatility on Thursday, initially jumping over $2 a barrel after Iran announced the closure of the Strait of Hormuz and the US conducted further strikes. However, prices later fell sharply as President Trump signaled a potential end to the US-Iran conflict, raising hopes for a peace deal and the reopening of the vital shipping lane.

    The Economic Times / Morgan Stanley / The Washington Post · Jun 11, 2026

  • S&P 500 rallies on hopes of US-Iran de-escalation

    US equities rebounded strongly, with the S&P 500 climbing 1.8% to 7,394.30, snapping a two-day slide. The rally was driven by optimism for a resolution to the US-Iran conflict and the potential reopening of the Strait of Hormuz.

    Morgan Stanley / The Washington Post · Jun 11, 2026

  • ECB hikes rates by 25 basis points, US CPI rises to 4.2%

    The European Central Bank (ECB) raised its key interest rate by 25 basis points to 2.25% at its June policy meeting. Meanwhile, the US Bureau of Labor Statistics reported that the May Consumer Price Index (CPI) rose 4.2% year-on-year, primarily driven by a 3.9% monthly jump in energy prices.

    Vantage Markets · Jun 11, 2026

  • Shipping's Ammonia Era Begins with Landmark Newbuild Delivery

    The world's first ocean-going vessel designed to operate on ammonia fuel was delivered, marking a significant milestone for the shipping industry's decarbonization efforts. This development highlights the growing trend towards alternative marine fuels.

    gCaptain · Jun 10, 2026

  • Canada's Ksi Lisims LNG Project Secures Indigenous Support

    The Ksi Lisims LNG project in Canada gained crucial backing from aboriginal communities, advancing the development of new LNG export infrastructure in North America. This project is part of a broader expansion phase in the region's LNG sector.

    Industrial Info · Jun 11, 2026

  • EU reaches deal on ETS2 safety valve to manage carbon prices

    Negotiators in the EU reached an agreement to implement a safety valve mechanism for the new ETS2 carbon pricing system, which covers buildings and road transport. This deal aims to prevent allowance prices from spiraling out of control and protect households from runaway energy bills.

    POLITICO · Jun 11, 2026