Global bunker prices recorded mixed movements this week as volatility continued across the bunker fuel market amid ongoing Middle East tensions. HSFO and VLSFO prices moved sharply higher, while MGO LS softened slightly, keeping market sentiment uneven.
The 380 HSFO index rose by USD 38.13 to USD 803.17/MT, moving above the USD 800 mark. VLSFO also increased strongly, gaining USD 48.53 to USD 962.55/MT and approaching the USD 1,000 threshold. In contrast, MGO LS declined by USD 6.91 to USD 1,455.10/MT.
The HSFO–VLSFO scrubber spread widened further, with the global spread rising to USD 159.38. Rotterdam saw a sharp increase from USD 92.00 to USD 140.00, while Singapore’s spread also widened to USD 115.00, improving the economics for scrubber-equipped vessels.
ECA spread dynamics weakened, with Istanbul falling sharply to USD 20.00, reducing the attractiveness of conventional ULSFO compared with MGO LS. Venice remained uncalculated due to limited regular market quotations.
LNG bunker demand remained under pressure after global LNG bunker volumes fell below 1 million tonnes in Q1. Higher gas prices, cold weather, constrained LNG exports and geopolitical disruption reduced LNG’s competitiveness against VLSFO in key hubs.
Looking ahead, bunker indices are expected to remain mixed. Any easing of Middle East tensions could trigger a downward correction, while further escalation may push bunker prices higher.
Source: MABUX
