A volatile week behind us, supertanker costs skyrocketed
Summary
- The US stock market experienced a positive week with new record highs, driven mainly by the technology sector, while the Helsinki Stock Exchange saw a slight decline and the Stoxx 600 index remained flat.
- Brent crude oil prices stayed above USD 100 per barrel amid geopolitical tensions, and the US agreed with Russia on diesel deliveries to manage domestic energy prices, causing confusion in Europe.
- Chartering a supertanker for oil transport from the US to China reached approximately USD 80 million, highlighting a severe shortage in the supertanker market.
- The US federal budget deficit was around USD 2,000 billion, or 6.2% of GDP, with rising interest expenses contributing to pressure on long-term interest rates.
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Automatic translation: Originally published in Finnish 12/10/2026, 04:27 GMT. Give feedback here.
Last week was a positive week on the US stock market, but a slight decline was seen on the Helsinki Stock Exchange, and the Stoxx 600 index ended up flat in Europe for the entire week. US stock indices set new records once again, while at the same time government bond yields rose to decades-high levels in an increasing number of developed economies.
| Indices | Close | 1-week change | YTD | |
| OMX Helsinki | 13564,6 | -0,5 % | 9,2 % | |
| Eurostoxx 600 | 631,6 | 0,0 % | 6,6 % | |
| S&P500 | 7811,5 | 1,2 % | 14,1 % |
The rise in stocks in the US is now almost entirely on the shoulders of the technology sector's narrow momentum. Elsewhere, inflation and interest rate pressures abound. The price of Brent crude oil remained above USD 100 per barrel as the standoff between the US and Iran continues. In addition, ahead of the November midterm elections, the US agreed with Russia on diesel deliveries of approximately 4.8 million tons and suspended sanctions on Russian diesel until April 2027. This is driven by the US domestic need to curb diesel prices as energy inventories dwindle. The decision caused particular confusion in Europe, and Ukrainian President Volodymyr Zelenskyy called it dishonest. Among the week's peculiarities was also the fact that chartering a supertanker for oil transport from the US to China cost already around USD 80 million according to Bloomberg, which is more than the launch of SpaceX's Falcon 9 rocket, reflecting a severe shortage in the supertanker market.
According to the Congressional Budget Office, meanwhile, the US federal budget deficit in the recently ended fiscal year was around USD 2,000 billion, or 6.2% of GDP. The deficit was large even though the economy is growing at a pace of 3–4% according to the Atlanta Fed's GDPNow model and the labor market remains strong. According to the Budget Office, interest expenses rose by 11% and are already the government's second-largest expenditure item. The deficits are expected to continue growing in the future, which in part creates pressure on long-term interest rates through supply.
