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Bullish As of May 22, 2026 16:00 ET Download PDF

Daily Energy & Shipping Briefing — May 22, 2026

Global energy markets remained volatile on Friday, May 22, 2026, with crude oil prices elevated due to ongoing geopolitical tensions in the Middle East and the closure of the Strait of Hormuz. Tanker freight rates continued to see strong support from rerouting and increased tonne-mile demand, while US equities extended their winning streak.

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 118.35 +0.50
WTI NYMEX $/bbl 96.60 +0.25

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 345.39 +7.43

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 2.92 -0.22

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 411.59 -12.21

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 26.71 +2.62

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 190,000 150,000
Suezmax, 130 WAF-UKC 120,000 95,000
Aframax, 80 Cross-Med 80,000 65,000

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 60,000 50,000
LR1, 55 TC5 45,000 38,000
MR, 37 TC2 35,000 30,000

Time Charter & Asset Values

Vessel 1yr ($/day) Newbuild ($M) 5yr ($M)
VLCC, 200+ 70,000 127.0 112.0

LNG Vessels ($/day)

Type Spot Sentiment 52wk Avg
160M3 Tri-fuel diesel electric (East) 13,000 Flat 30,231

Bunkers ($/mt)

Port VLSFO HSFO MGO
Singapore 780.0 650.0 850.0
Rotterdam 700.0 580.0 770.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,643

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 76.90 77.10

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,473.47 +27.75
Dow Jones Industrial Average United States 50,579.70 +294.04
Pair Region Last Δ Day
EUR/$ European Union 1.16 0.00

Developments

  • Crude tanker markets rebalance on longer haul trades amid Hormuz closure

    The closure of the Strait of Hormuz has rewired global seaborne crude transportation, leading to longer voyages and supporting strong tanker freight rates, despite concerns about long-term energy security.

    Seatrade Maritime News · May 22, 2026

  • Oil markets remain choppy as Middle East supply situation creates uncertainty

    Crude oil markets continued to be noisy and volatile on Friday, with traders hesitant to take aggressive positions due to ongoing uncertainties surrounding the supply situation in the Middle East.

    FXEmpire · May 22, 2026

  • S&P 500 posts eighth consecutive weekly gain, nearing all-time high

    The U.S. stock market concluded its eighth straight winning week, with the S&P 500 climbing 0.4% on Friday and moving closer to its all-time high set earlier in the week.

    Associated Press · May 22, 2026

  • EUR/USD under pressure amidst US-Iran conflict headlines

    The Euro to US Dollar exchange rate faced pressure on Friday, concluding a choppy week dominated by conflicting geopolitical headlines related to the US-Iran conflict.

    FXStreet · May 22, 2026

  • European carbon prices see upward trend in May, hitting multi-week highs

    Futures prices for CO2 emission allowances in the EU ETS stood between €75-79/t in the second half of May, with prices reaching a high of €78/t by May 26, driven by energy price volatility and reform discussions.

    GMK Center · May 28, 2026

  • Record high bunker oil price difference between Asia and Europe observed in spring 2026

    Analysis revealed a record $362 per ton price difference for VLSFO bunker oil between Singapore and Rotterdam in mid-March, with price shocks impacting Asian markets more severely due to geopolitical crises.

    Marine Link · June 10, 2026