Global bunker prices rise as Middle East tensions support fuel markets

Global bunker prices resumed a clear upward trend this week, supported by persistent geopolitical tensions in the Middle East, supply-side concerns and elevated risk premiums across the bunker market.

The 380 HSFO index increased by USD 26.54, rising from USD 737.03/MT to USD 763.57/MT. VLSFO posted a stronger gain, climbing by USD 54.12 from USD 856.02/MT to USD 910.14/MT and moving above the USD 900/MT level. MGO LS also strengthened, advancing by USD 45.24 to USD 1,451.98/MT.

The MABUX Global Scrubber Spread widened significantly, rising from USD 118.99 to USD 146.57. Rotterdam and Singapore also recorded higher HSFO–VLSFO spreads, moving closer to the USD 100 breakeven level.

Regional market dynamics remained volatile. The Istanbul ECA Spread declined from USD 75.00 to USD 50.00, although sharp intraday fluctuations continued. The MABUX Market Differential Index showed a broader shift toward undervaluation across major hubs including Rotterdam, Singapore, Fujairah and Houston.

Energy markets remained under pressure from Middle East tensions and gas supply concerns. European gas storage rose modestly, while TTF prices moved higher. LNG bunker fuel prices at Sines also increased.

Looking ahead, bunker markets are expected to remain firm, with global indices supported by geopolitical risk, tight supply and cautious supplier activity.

Source: MABUX