Global bunker prices surged sharply this week as escalating tensions between the United States and Iran and the effective closure of the Strait of Hormuz triggered a rally in crude oil markets and intensified volatility across the global energy complex.
Across the bunker segments, prices recorded substantial gains. The MABUX Global 380 HSFO Index rose from USD 575.57/MT last week to USD 735.39/MT. The VLSFO Index increased from USD 670.31/MT to USD 869.72/MT, while the MGO LS Index climbed from USD 1043.18/MT to USD 1229.52/MT. During the week, the MGO LS index briefly exceeded the USD 1300/MT level, marking the highest value recorded since MABUX began tracking data in 2001.
The global scrubber spread between 380 HSFO and VLSFO widened significantly to USD 134.33, surpassing the USD 100 breakeven threshold and improving the relative economics for scrubber-equipped vessels. Singapore recorded the most pronounced increase amid fuel shortages, while Rotterdam remained closer to the USD 50 level.
Regional bunker markets also reflected strong volatility. The ECA spread in Istanbul declined to USD 150 but briefly surged to around USD 400 during the week, highlighting sharp fluctuations in marine gasoil prices.
Broader energy markets remain under pressure. LNG bunker prices in Sines jumped to USD 1,538/MT, while European gas storage levels continued to decline.
Given ongoing geopolitical tensions and tightening supply conditions, upward pressure on global bunker prices is likely to persist in the near term.
Source: MABUX
