Skip to content
Bearish As of May 29, 2026 17:00 ET Download PDF

Daily Energy & Shipping Briefing — May 29, 2026

Crude oil prices experienced a notable decline on Friday, May 29, 2026, driven by increasing speculation of a potential US-Iran ceasefire and de-escalation of tensions in the Middle East. This bearish sentiment for crude emerged despite reports of tightening US crude and product inventories. Meanwhile, global equity markets, particularly in the US, continued their upward trajectory, with the S&P 500 extending its winning streak, largely fueled by strong performance in the tec...

Energy Prices

Crude

Instrument Unit Last Δ Day
Brent ICE $/bbl 92.05 -1.69

Products

Instrument Unit Last Δ Day
RBOB Gasoline NYMEX c/gal 312.67 -5.85

Natural Gas

Instrument Unit Last Δ Day
US Henry Hub NYMEX $/MMBtu 3.34 +0.30

Natural Gas Liquids

Instrument Unit Last Δ Day
US Mont Belvieu Propane NYMEX $/mt 422.56 -0.52

Price Spreads

Instrument Unit Last Δ Day
RBOB Gasoline/Brent Crack Spread $/bbl 39.27 -0.77

Shipping Rates & Bunkers

Dirty Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
VLCC, 270 AG-FE 40,300 39,700
Suezmax, 140 WAF-UKC 28,000 27,500
Aframax, 80 Carib-USGC 22,000 21,500

Clean Tanker (Spot TCE, $/day)

Vessel Route Spot TCE Avg YTD
LR2, 75 AG-FE 20,500 26,400
MR, 37 TC2 18,000 19,500

Time Charter & Asset Values

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

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 508.0 425.0 585.0
Rotterdam 515.0 430.0 590.0
Fujairah 510.0 428.0 588.0

LPG (Spot TCE, $/day)

VLGC, 44 (AG-Japan) 34,643

Carbon Markets

Instrument Unit Bid Offer
European Union Allowances (Spot) EUR/ton 69.90 70.10

Equities & Currencies

Index Region Last Δ Day
S&P 500 United States 7,580.06 +15.13
Pair Region Last Δ Day
EUR/$ European Union 1.17 +0.00

Developments

  • Oil Prices Fall on US-Iran Ceasefire Speculation

    Crude oil prices, including Brent and WTI, declined on Friday amid increasing reports of a potential 60-day US-Iran ceasefire agreement, which could ease Middle East tensions and potentially reopen the Strait of Hormuz.

    Reuters/Times of India · May 29, 2026

  • US Crude and Product Inventories Decline Ahead of Summer Driving Season

    US commercial crude inventories fell by 3.3 million barrels, while gasoline stocks declined for the 15th consecutive week and distillate inventories hit a 23-year low, indicating tightening supply as the summer driving season begins.

    EIA/Marex · May 28, 2026

  • S&P 500 Extends Gains, Tech Sector Rallies on AI Demand

    The S&P 500 closed higher for its seventh consecutive day and ninth straight week, reaching new all-time highs, largely driven by strong performances in tech stocks like Dell Technologies, which surged on robust AI computing demand.

    TheStreet/AP News · May 29, 2026

  • OPEC+ Postpones Production Increases Amid Slack Crude Prices

    Key members of the OPEC+ alliance decided on Thursday to delay increasing oil production, citing weaker-than-expected demand and competition from non-allied producers, which could contribute to stagnant oil prices.

    Odessa American · May 28, 2026

  • China's Pivotal Role in Tanker Market Highlighted by Poten & Partners

    A Poten & Partners analysis on May 29, 2026, emphasized China's critical influence on the global tanker market, noting its position as the largest crude oil importer.

    Poten & Partners · May 29, 2026