Global bunker prices moved lower this week as bunker markets entered a corrective phase after reports of a two-week ceasefire in the Middle East reversed the earlier rally driven by geopolitical tensions. Sentiment softened sharply, and by April 8 the market was under renewed downward pressure.
The 380 HSFO index fell by USD 18.17 to USD 783.50/MT, slipping back below the USD 800 mark. VLSFO also declined by USD 18.18 to USD 922.86/MT, while MGO LS posted the steepest drop, falling by USD 42.14 to USD 1,593.30/MT and moving below USD 1,600/MT.
The global scrubber spread edged up slightly to USD 139.36, still above the USD 100 breakeven level. However, regional spreads softened: Rotterdam’s spread was unchanged at USD 40.00, while Singapore narrowed significantly to USD 135.00. MABUX expects the spread to continue narrowing in the week ahead.
On the energy side, European gas prices rose as Middle East disruptions continued to affect supply expectations, while LNG bunker prices at Sines fell sharply to USD 1,149/MT. The near-term outlook remains bearish for bunker indices as long as the ceasefire holds.
Source: MABUX
