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Bearish As of Jun 26, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Jun 26, 2026

Global crude oil prices eased on Friday, June 26, 2026, as improved tanker traffic through the Strait of Hormuz and progress in Middle East peace negotiations alleviated supply concerns. Natural gas futures, however, saw gains driven by forecasts of extreme heat in the United States, while equity markets ended the week lower amidst a tech sector sell-off.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 73.34 -0.40
WTI NYMEX $/bbl 69.23 -2.69

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 292.07 +2.58
Heating Oil NYMEX c/gal 280.50 +1.50

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.33 -0.01

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 403.12 -0.63

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 49.33 +1.48

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 38,000 45,000
Suezmax, 130 WAF-UKC 28,000 32,000
Aframax, 70 Carib-USGC 22,000 26,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 19,000 25,000
MR, 37 TC2 (UKC-USAC) 15,000 18,000

Time Charter & Asset Values

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

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 599.0 516.0 676.0
Rotterdam 580.0 495.0 650.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 33,000
VLGC, 44 (USGC-Japan) 55,000

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 7,353.95 -3.47
Dow Jones Industrial Average United States 51,876.11 -46.69
Pair Region Last Δ Day
EUR/$ European Union 1.14 0.00
USD/JPY Japan 162.50 +0.10

Developments

  • Crude Oil Prices Decline as Tanker Traffic Through Strait of Hormuz Normalises

    Global crude benchmarks traded lower as market sentiment improved with tanker traffic through the Strait of Hormuz returning to near-normal levels, easing supply concerns.

    Various News Outlets · Jun 26, 2026

  • S&P 500 Ends Lower Amid Tech Sell-Off, Moderna Rallies

    The S&P 500 declined marginally on Friday, driven by a steep drop in AI-related chip stocks, while Moderna and other healthcare stocks saw sharp gains.

    Reuters · Jun 26, 2026

  • Extreme Heat Forecasts Drive Natural Gas Futures to 2.5-Week High

    July Nymex natural gas futures closed higher, rallying to a two-and-a-half-week high due to expectations of surging electricity demand from air-conditioning units across major U.S. population centers.

    Foreign Policy Journal · Jun 26, 2026

  • US Crude Oil Inventories Decrease by 3.8 Million Barrels

    U.S. commercial crude oil inventories decreased by 3.8 million barrels from the previous week, standing 7% below the five-year average for this time of year.

    Oil & Gas 360 · Jul 01, 2026

  • Barclays Cuts Brent Price Forecasts for 2026 and 2027

    Barclays revised down its Brent crude price forecasts, citing an increase in oil flows through the Strait of Hormuz which eased supply concerns despite a cargo vessel incident.

    Reuters · Jun 26, 2026

  • OpenAI Reportedly Considers Delaying IPO to 2027, Weighing on Tech Sentiment

    Reports that OpenAI is leaning towards delaying its initial public offering until next year contributed to a global tech sell-off and investor reassessment of technology stock valuations.

    TheStreet · Jun 26, 2026