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Bearish As of Jun 12, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Jun 12, 2026

Global energy markets saw a significant downturn on Friday, June 12, 2026, as crude oil prices plunged following reports of easing U.S.-Iran tensions and a potential peace deal. This geopolitical de-escalation, which included the cancellation of planned U.S. airstrikes, led to a 'risk-on' sentiment in equities but a sharp correction in oil benchmarks. Shipping rates, while still elevated due to earlier disruptions, experienced minor declines in some segments.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 86.80 -2.00
WTI NYMEX $/bbl 84.88 -1.42

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 304.00 +0.40
Heating Oil NYMEX c/gal 340.00 -18.27

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.90 -0.25
European TTF ICE EUR/MWh 46.77 -2.92

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 179.29 -4.73

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 40.88 +2.17

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 39,000 39,700
Suezmax, 130 WAF-UKC 32,000 31,500
Aframax, 80 Carib-USGC 28,000 27,500

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 20,000 26,400
LR1, 55 MEG-Japan 18,500 22,000
MR, 37 TC2 (UKC-USAC) 16,000 19,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 49,000 127.0 112.0
Suezmax, 130 38,000 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 Flat 35,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 800.0 600.0 900.0
Rotterdam 750.0 550.0 850.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,643
VLGC, 44 (USGC-Japan) 40,000

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 7,350.00 -44.30
Pair Region Last Δ Day
EUR/$ European Union 1.14 -0.01

Developments

  • Oil Falls About 4% as Trump Halts Iran Strike

    Crude oil prices dropped sharply on Friday after US President Donald Trump cancelled planned airstrikes on Iran and signaled a peace deal was in its final stages, easing geopolitical tensions.

    Vantage Markets · Jun 12, 2026

  • Fitch Ratings Revises Global Shipping Outlook to Neutral on War-Led Tanker Rate Surge

    Fitch Ratings upgraded its 2026 outlook for the global shipping sector to 'neutral' from 'deteriorating', citing a war-driven increase in demand for alternative oil and oil product suppliers and routes, which significantly boosted tanker rates.

    Fitch Ratings · Jun 11, 2026

  • Global Equities Rebound as U.S.-Iran Tensions Ease, Oil Prices Decline

    Global equity markets saw a rebound as easing U.S.-Iran tensions led to a sharp decline in oil prices, fostering a broad 'risk-on' sentiment across regions, though U.S. markets lagged due to tech sector pressure.

    Howard Capital Management · Jun 12, 2026

  • Ocean Shippers Frontload Cargo Ahead of Tariffs, Fuel Concerns

    Ocean shippers are accelerating cargo shipments to mitigate rising costs and anticipated tariffs, indicating an early peak season with June import volumes expected to increase significantly year-over-year.

    Supply Chain Dive · Jun 12, 2026

  • ECB Raises Interest Rates by 25 Basis Points Amid Inflation Pressures

    The European Central Bank increased its deposit rate by 25 basis points to 2.25%, marking the first hike since 2023, in response to inflation pressures exacerbated by the Iran conflict and Strait of Hormuz disruptions.

    Saxo Bank · Jun 11, 2026