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Neutral As of May 15, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — May 15, 2026

Global crude oil markets edged higher today, driven by persistent supply tightness and robust demand forecasts, while refined products followed suit. Natural gas prices saw a slight decline amid comfortable storage levels. Shipping rates presented a mixed picture, with tanker markets showing resilience and LNG rates reflecting seasonal patterns.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 85.50 +1.35
WTI NYMEX $/bbl 81.20 +1.40

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 262.50 +3.20
NY Harbor ULSD NYMEX c/gal 275.80 +2.90

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.15 -0.08
TTF (Europe) ICE EUR/MWh 32.50 +0.45

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 425.00 +6.50
US Mont Belvieu Ethane NYMEX c/gal 28.00 +0.80

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 24.50 -0.25
ULSD/Brent Crack Spread $/bbl 28.10 -0.18

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 38,500 36,000
Suezmax, 130 WAF-UKC 28,000 26,500
Aframax, 80 Caribs-USG 21,000 20,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 22,000 24,000
LR1, 55 AG-FE 18,500 19,500
MR, 37 USG-UKC 16,000 17,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 51,000 132.0 118.0
Suezmax, 130 38,000 90.0 78.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 42,000 Neutral 75,000
174M3 MEGI (Atlantic) 45,000 Neutral 80,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 630.0 530.0 710.0
Rotterdam 615.0 510.0 695.0
Fujairah 640.0 540.0 720.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 48,000
VLGC, 44 (USG-Japan) 55,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 84.80 85.00
California Carbon Allowances (Spot) $/ton 42.10 42.30

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 5,810.20 -22.50
FTSE 100 United Kingdom 8,350.15 -15.30
Nikkei 225 Japan 39,500.70 +85.40
Pair Region Last Δ Day
EUR/$ European Union 1.09 +0.00
$/JPY Japan 155.80 -0.25
GBP/$ United Kingdom 1.28 +0.00

Developments

  • OPEC+ signals continued vigilance on oil market stability ahead of June meeting

    Sources indicate that major OPEC+ producers are likely to maintain current output levels, emphasizing market stability amidst global demand uncertainties and geopolitical factors.

    Reuters · May 15, 2026

  • New LNG liquefaction project in Mozambique secures final investment decision

    A consortium of international energy companies announced FID for a multi-billion dollar LNG project, boosting future global gas supply prospects and regional economic development.

    S&P Global Platts · May 14, 2026

  • Tanker rates firm up on Red Sea diversions and robust Asian demand

    Geopolitical tensions continue to reroute significant tanker traffic, tightening vessel availability and pushing freight rates higher, particularly for long-haul routes to Asia.

    TradeWinds · May 15, 2026

  • EU carbon prices climb as industrial sectors prepare for tighter emissions caps

    European Union Allowance (EUA) prices saw an uptick as industries anticipate stricter regulations and reduced free allowances under the bloc's decarbonization agenda.

    Bloomberg · May 14, 2026

  • US refinery utilization rates rise ahead of peak summer driving season

    US refiners are increasing throughput to build gasoline inventories, signaling confidence in strong demand for the upcoming summer travel period and robust consumer activity.

    NGI · May 15, 2026

  • Global shipping industry grapples with new IMO emissions reporting requirements

    Shipowners and operators are adapting to the latest International Maritime Organization (IMO) mandates for enhanced emissions data collection and reporting, impacting operational strategies and fleet management.

    Lloyd's List · May 14, 2026