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Neutral As of May 18, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — May 18, 2026

Global energy markets saw mixed movements on Monday, May 18, 2026, with crude oil prices firming slightly amid ongoing geopolitical concerns, while natural gas experienced a modest decline. Shipping rates remained relatively stable across most segments, though some tanker routes showed minor fluctuations.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 85.20 +0.85
WTI NYMEX $/bbl 81.50 +0.78

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 270.50 +1.50
NY Harbor ULSD NYMEX c/gal 265.30 +1.20

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.05 -0.08
TTF (Europe) ICE EUR/MWh 32.50 -0.50

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 452.00 +2.10
US Mont Belvieu Ethane NYMEX $/gal 0.35 +0.01

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 24.50 +0.25
ULSD/Brent Crack Spread $/bbl 28.10 +0.15

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 45,500 43,000
Suezmax, 130 WAF-UKC 32,100 30,500
Aframax, 80 Carib-USGC 28,900 27,800

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 25,300 24,000
MR, 37 TC2 (UKC-USAC) 21,700 20,500

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 52,000 130.0 115.0
Suezmax, 130 38,000 90.0 78.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 51,000 Stable 65,000
174M3 MEGI (West) 55,000 Firm 70,000

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 655.0 550.0 750.0
Rotterdam 645.0 540.0 740.0
Fujairah 660.0 555.0 755.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 38,500
VLGC, 44 (USGC-Japan) 42,000

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 80.10 80.20
California Carbon Allowances (Spot) USD/ton 38.50 38.60

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 5,520.30 +15.70
FTSE 100 United Kingdom 8,350.10 +25.50
Pair Region Last Δ Day
EUR/$ European Union 1.10 +0.00
USD/JPY Japan 155.80 -0.20

Developments

  • OPEC+ Agrees to Raise May Output Targets Despite Mideast Gulf Conflict

    The eight core OPEC+ members agreed to raise their collective production target by 206,000 b/d in May, continuing a process to unwind 1.65mn b/d of cuts that began in April 2025, even as conflict in the Mideast Gulf disrupts supplies.

    S&P Global · May 18, 2026

  • LNG Shipping Rates Surge Amid Escalating Strait of Hormuz Risks

    Global LNG shipping rates have seen a sharp increase, with spot charter rates for modern LNG carriers surging due to escalating geopolitical risks in the Middle East and disruptions in the Strait of Hormuz, leading to longer shipping routes and tighter vessel availability.

    Bloomberg · May 17, 2026

  • US Crude Exports Hit Record High in May as Hormuz Disruptions Reroute Global Flows

    US crude oil exports reached a record 5.6 million b/d in May, as ongoing disruptions in the Strait of Hormuz compelled global buyers to seek alternative supply sources, with South Korea becoming the largest destination.

    S&P Global · May 18, 2026

  • EU Carbon Border Adjustment Mechanism (CBAM) Enters Definitive Regime in 2026

    The European Union's Carbon Border Adjustment Mechanism (CBAM) officially entered its definitive regime in 2026, aiming to put a fair price on carbon emissions for imported carbon-intensive goods and encourage cleaner industrial production globally.

    European Commission · May 18, 2026

  • Global Oil Demand Continues Steady Growth into 2026

    Global oil consumption is projected to continue its steady growth, with forecasts indicating an increase of approximately 1.3-1.5 million barrels per day in 2026, driven by normal market fundamentals rather than post-pandemic rebound effects.

    Teekay Tankers · May 17, 2026

  • Concerns Rise Over Potential US Port Labor Disruptions

    Shipping industry analysts are closely monitoring ongoing labor negotiations at major US East and Gulf Coast ports, with concerns rising over potential disruptions that could impact supply chains and reroute cargo.

    Bloomberg · May 17, 2026