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Neutral As of Jun 30, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — Jun 30, 2026

Crude oil prices eased on Tuesday as prospects of a US-Iran ceasefire and the reopening of the Strait of Hormuz alleviated supply concerns, leading analysts to cut their 2026 oil price forecasts. Meanwhile, major US stock indexes closed higher, trimming losses for June, while the Euro weakened against a strong US Dollar.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent EIA $/bbl 70.46 -1.14
WTI EIA $/bbl 70.56 -1.29

Products

Instrument Unit Last Δ Day
RBOB Gasoline EIA c/gal 298.00 -7.30
ULSD (Heating Oil) EIA c/gal 298.00 -7.30

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.28 +0.09

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane CME $/mt 591.70 +1.00

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 25.00 -0.50

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 40,000 39,500
Suezmax, 130 WAF-UKC 32,000 31,500

Clean Tanker (Spot TCE, $/day)

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

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 49,000 127.0 112.0
Suezmax, 150 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 Flat 35,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 505.0 420.0 580.0
Rotterdam 495.0 410.0 570.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,500
VLGC, 44 (USGC-Japan) 60,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 70.00 70.05

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,499.36 +58.93
Dow Jones Industrial Average United States 52,319.20 +136.46
Pair Region Last Δ Day
EUR/$ European Union 1.14 0.00

Developments

  • Analysts dial down oil forecasts as Hormuz reopening eases supply concerns

    Analysts have cut their 2026 oil price forecasts for the first time since the Iran war began, as the reopening of the Strait of Hormuz alleviates concerns over prolonged supply disruptions. Brent crude is now expected to average $84.50 per barrel in 2026, down from $90.44 projected last month.

    Reuters · Jun 30, 2026

  • Shell expects 65% rise in global LNG demand by 2050

    Global liquefied natural gas demand is expected to rise by around 65% by 2050, driven largely by Asia as countries seek lower-emission alternatives to coal and data centers boost power demand, Shell said in an annual report. Global LNG trade in 2026 could be similar to last year's level due to Strait of Hormuz disruptions.

    Reuters · Jun 30, 2026

  • U.S. stocks rise and trim their losses for June

    U.S. stocks rose on Tuesday, trimming losses from what had been a rocky June. The S&P 500 gained 0.8%, though it still marked its first losing month after two strong ones, while the Dow Jones Industrial Average added 0.3% to another record.

    Associated Press · Jun 30, 2026

  • Euro Falls as Strong Dollar Pushes EUR/USD Below 1.1400

    The EUR/USD pair came under renewed selling pressure, breaking below the 1.1400 level, as heightened demand for the US Dollar, driven by Iran-related risks and firm Federal Reserve rate expectations, weighed on the Euro.

    TradingPedia · Jun 30, 2026

  • ECB's inflation fears linger despite oil price retreat

    European Central Bank policymakers welcomed the recent drop in oil prices but warned that energy costs remain high and the shock will linger in the economy, fueling price pressures. The ECB had raised interest rates last month and is contemplating further tightening.

    Reuters · Jun 30, 2026

  • Canada's South Bow to develop new Wyoming-Oklahoma pipeline project with U.S.-based Bridger

    Canada's South Bow is set to develop a new pipeline project in Wyoming and Oklahoma with U.S.-based Bridger, signaling continued investment in North American energy infrastructure.

    Reuters · Jun 30, 2026