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

Daily Energy & Shipping Briefing — Jun 17, 2026

Energy markets on June 17, 2026, saw crude prices decline following an interim US-Iran deal aimed at stabilizing the Strait of Hormuz and easing supply concerns. Despite this bearish sentiment in crude, the broader shipping sector, particularly tankers, maintained a strong outlook due to sustained demand for alternative routes and elevated geopolitical risks earlier in the year. US LNG projects continued to reach final investment decisions, while European carbon prices remain...

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 80.33 -0.17
WTI NYMEX $/bbl 80.65 +0.85

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 288.70 +0.70
ULSD Heating Oil NYMEX c/gal 307.00 -3.50

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.25 +0.15

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 376.89 +2.10

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 40.92 +0.46

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 60,300 70,000
Suezmax, 130 WAF-UKC 42,500 45,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 35,000 30,000
MR, 37 TC2 (UKC-USAC) 28,000 25,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 105,000 130.5 138.0
Suezmax, 130 65,000 88.0 107.5

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 150,000 Elevated 120,000
174M3 TFDE (Atlantic) 135,000 Firm 110,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 652.0 550.0 950.0
Rotterdam 600.0 490.0 880.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 45,000
VLGC, 44 (USGC-Japan) 52,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 79.90 80.10

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,420.10 -91.25
Dow Jones Industrial Average United States 51,492.55 -507.12
Pair Region Last Δ Day
EUR/$ European Union 1.16 -0.01

Developments

  • US-Iran Interim Deal Signed, Aiming to Stabilize Strait of Hormuz

    An interim agreement between the US and Iran was signed on June 17, 2026, with provisions for a 60-day ceasefire extension and efforts to ensure safe passage for commercial vessels through the Strait of Hormuz. This development is expected to ease oil supply concerns.

    The Straits Times / Discovery Alert · Jun 17, 2026

  • OPEC+ Agrees to Raise Oil Output by 188,000 BPD in June

    Seven OPEC+ nations, including Saudi Arabia and Russia, agreed on June 7, 2026, to increase collective oil production by 188,000 barrels per day for June, continuing the unwinding of voluntary cuts amid market uncertainty.

    OPEC.org / The National · Jun 07, 2026

  • Delfin Midstream Reaches FID on First US Floating LNG Export Project

    Delfin Midstream announced on June 3, 2026, a $5 billion Final Investment Decision for the US's first floating LNG export vessel, adding 4.4 million metric tons/year of capacity by 2030 and marking the third US liquefaction project to advance this year.

    S&P Global / IEA · Jun 03, 2026

  • Fitch Revises Global Shipping Outlook to Neutral Amid War-Driven Tanker Rate Surge

    Fitch Ratings revised its 2026 outlook for the global shipping sector to 'neutral' from 'deteriorating' on June 11, 2026, citing a war-driven increase in demand for alternative suppliers and routes, which has led to higher tonne-mile demand and a sharp increase in tanker shipping rates.

    Fitch Ratings · Jun 11, 2026

  • European Carbon Prices Rise in June, EU Commission to Review ETS Reform

    European carbon prices (EUAs) rose to €80/ton in June 2026, with the European Commission confirming it would present proposals in July for additional benchmarks and a review of the bloc's carbon market.

    GMK Center / AgroNews · Jun 21, 2026

  • S&P 500 Slumps as Fed Meeting Signals Potential Rate Hike in Late 2026

    US stocks dropped on June 17, 2026, with the S&P 500 falling 1.2% after the Federal Reserve released projections indicating that nearly half of its policymakers foresee at least one interest rate increase later in the year.

    WDRB / TheStreet · Jun 17, 2026