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Bearish As of Jun 22, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Jun 22, 2026

Global energy markets are reacting to a tentative US-Iran agreement, which has led to a sharp decline in crude oil prices and a cautious reopening of the Strait of Hormuz, though uncertainties persist. Meanwhile, European natural gas prices saw mixed movements, and regional heatwaves are boosting power demand. Shipping markets are tightening due to holiday pressures and upcoming tariffs, while geopolitical tensions continue to impact fuel supplies in Russia.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 76.49 -3.97
WTI NYMEX $/bbl 78.94 -1.41

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 298.70 -0.79
ULSD Heating Oil NYMEX c/gal 309.31 -3.42

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.16 +0.08

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 365.56 -6.24

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 23.19 -0.15
ULSD/Brent Crack Spread $/bbl 25.50 -0.20

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 32,000 30,500
Aframax, 80 Caribs-USGC 28,000 27,000

Clean Tanker (Spot TCE, $/day)

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

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
MR, 50 25,000 45.0 38.0

LNG Vessels ($/day)

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

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 818.5 698.5 968.5
Rotterdam 790.0 670.0 930.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,643
VLGC, 44 (USGC-Japan) 42,000

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 3,877.30 +57.37
Dow Jones Industrial Average United States 52,000.00 +500.00
Pair Region Last Δ Day
EUR/$ European Union 1.14 0.00
USD/JPY Japan 157.50 +0.25

Developments

  • US-Iran Agreement Sends Oil Tumbling, Stocks Rising Amid Strait of Hormuz Reopening

    A ceasefire agreement between the US and Iran led to a sharp fall in oil prices and a broad relief rally in global markets, with the Strait of Hormuz reopening for transit. However, uncertainty remains regarding the full normalization of supply and the sustainability of the deal.

    Various News Agencies · Jun 22, 2026

  • Europe Braces for Record-Breaking Extreme Heat, Boosting Energy Demand

    Southern Europe and the UK are expecting record-breaking extreme heat this week, with temperatures reaching up to 45°C in Spain, leading to increased power demand for cooling.

    Climate and Energy Live Blog · Jun 22, 2026

  • China's Crude Imports Fall Sharply, Weighing on Oil Prices

    Chinese crude imports by tanker fell nearly 40% below the 2025 average last month, a significant reduction that has helped offset potential supply shocks from the Strait of Hormuz situation and kept oil prices contained.

    Jackson Square Financial · Jun 22, 2026

  • Global Freight Market Tightens Ahead of July 4 Holiday and US Tariff Increases

    Shippers face a tighter freight market due to end-of-month/quarter volume and the upcoming July 4 holiday slowdown. Truckload rates remain elevated, and importers are front-loading shipments ahead of late July tariff increases.

    Transportation Insight, Shippio Trade News · Jun 22, 2026

  • Ukrainian Drone Attacks Strain Russian Fuel Markets, Causing Shortages

    Sustained Ukrainian long-range drone strikes on Russian refineries and storage facilities have led to fuel shortages, long queues, and rising prices across Russia, including major cities.

    Market Insights · Jun 22, 2026