Global bunker prices rose sharply in July as renewed conflict in the Persian Gulf, crude oil volatility and higher logistics costs pushed marine fuel markets upward.
The MABUX 380 HSFO Index increased by USD 74.07 to USD 624.75/MT, while VLSFO gained USD 78.92 to USD 785.55/MT. MGO LS recorded the strongest rise, advancing by USD 259.55 to USD 1,345.16/MT.
The Global Scrubber Spread widened by USD 4.85 to USD 160.80. Rotterdam’s spread narrowed slightly to USD 139.00, while Singapore’s widened by USD 11.00 to USD 240.00. All remained above the USD 100 breakeven level, supporting the economic advantage of HSFO with scrubbers.
Supply improved in Singapore and Rotterdam as inventories recovered, but Fujairah remained comparatively tight. Vessel rerouting, war-risk insurance and elevated tanker freight rates continued to support bunker delivery costs.
LNG and gas markets also strengthened. The Strait of Hormuz crisis disrupted part of global LNG supply, while European TTF prices rose to EUR 58.818/MWh. LNG bunker fuel in Sines climbed to USD 1,407/MT, leaving MGO LS cheaper by USD 75/MT.
Bunker markets are expected to remain volatile in August, with prices staying sensitive to Middle East developments, oil export security and tanker traffic. Short-term corrections remain possible if regional tensions temporarily ease.
Source: MABUX
