Mabux: Global Bunker Prices

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MARKET BUNKER PRICES (MBP)
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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
743.50
-43.00
711.00
+5.00
Jul 7
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	743.50	-43.00	711.00	+5.00	Jul 7

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
469.46	+3.36	565.64	+2.25	793.76	+5.40	Jul 9

Click to see Regional Bunker Indexes

MABUX Market Differential Index (MDI)

Correlation between market bunker prices (MBP) and MABUX Digital Bunker Price Benchmark (DBP)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	Date
Rotterdam	440	454	-14	518	510	+8	711	761	-50	Jul 9
Singapore	428	464	-36	537	555	-18	687	794	-107	Jul 9
Fujairah	415	498	-83	521	559	-38	739	947	-208	Jul 9
Houston	435	478	-43	500	598	-98	699	763	-64	Jul 9

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Digital Bunker Prices
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Analytical Section
- Daily and Weekly Bunker analyses and Future Curves
- World and regional Bunker indices
- Bunker Price Forecast for 40+ ports
- Digital Bunker Prices
MABUX for Industry
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Latest News
- 2025-07-09
  GLOBAL: TRAFIGURA TO TAKE EQUITY STAKE IN ZERONORTH
  Global commodities group Trafigura is to take an equity stake in maritime technology company ZeroNorth. The companies have today (9 July) announced a strategic alliance that will also see ZeroNorth’s platform rolled out across Trafigura's controlled... Read more
- 2025-07-09
  GLOBAL: IBIA APPOINTS NEW MARKETING & BUSINESS DEVELOPMENT LEAD
  Elena Wilson, who was previously Conference and Event Manager with Petrospot (now ship.energy), has returned to the marine fuels industry in a new position as Marketing & Business Development Lead at the International Bunker Industry Association (IBIA). In... Read more
- 2025-07-09
  AFRICA: ENI LAUNCHES REPUBLIC OF THE CONGO’S FIRST VEGETABLE OIL EXTRACTION PLANT
  Italy-headquartered Eni has inaugurated a new vegetable oil extraction plant in the Republic of the Congo that will provide source material for Enilive’s biorefineries. The new facility in Loudima, in the central-southern part of the Republic of the... Read more
- 2025-07-09
  EUROPE: ‘CO2-NEUTRAL, SELF-SUFFICIENT’ ENERGY SYSTEM LAUNCHED AT GERMANY’S DUISBURG GATEWAY TERMINAL
  Duisburger Hafen AG has opened a ‘CO2-neutral and self-sufficient energy system’ for the new Duisburg Gateway Terminal, located in the Rhine-Ruhr industrial region of Germany. In a statement issued yesterday (8 July), Rolls-Royce said that it has provided... Read more
- 2025-07-09
  GLOBAL: IMO SECRETARY-GENERAL URGES DIALOGUE AS RED SEA ATTACKS RESUME
  The Secretary-General of the International Maritime Organization (IMO), Arsenio Dominguez, has called for intensified diplomatic efforts following attacks on two commercial ships in the Red Sea. Four seafarers were killed during an attack on the Liberian-flagged... Read more
- 2025-07-09
  AMERICAS: RINA PROVIDING WATER SUPPLY STUDY FOR BRAZILIAN GREEN HYDROGEN PRODUCTION PLANT
  The Italy-based certification and consultancy company RINA will be undertaking a World Bank-funded assignment to study the options for supplying industrial water for a green hydrogen production plant at the Brazilian Port of Pecém. In a statement issued... Read more
- 2025-07-09
  Oil prices ease from two-week highs as investors await tariff clarity
  Oil prices edged down on Wednesday after rising to two-week highs in the previous session, as investors awaited new developments on U.S. tariffs amid expectations of rising crude inventories in the United States. Brent crude futures slipped 7 cents,... Read more Oil prices edged down on Wednesday after rising to two-week highs in the previous session, as investors awaited new developments on U.S. tariffs amid expectations of rising crude inventories in the United States.
  Brent crude futures slipped 7 cents, or 0.1%, at $70.08 a barrel by 0400 GMT. U.S. West Texas Intermediate crude fell 8 cents, or 0.1%, to $68.25 a barrel.
  U.S. President Donald Trump’s latest tariff delay provided some hope to major trade partners Japan, South Korea and the European Union that deals to ease duties could still be reached, while bewildering some smaller exporters such as South Africa and leaving companies with no clarity on the path forward.
  Trump pushed back Wednesday’s previous deadline to August 1, a date he said on Tuesday was final, declaring: "No extensions will be granted."
  Trump added that he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, broadening a trade war that has rattled markets worldwide.
  "Investors are constantly dealing with ’tariffs headlines’ and the potential fallout from their adverse impact on global trade," said Priyanka Sachdeva, senior market analyst at Phillip Nova.
  "... Given the backdrop of uncertainty and potential sombre economic growth going forward, it’s surprising how the energy complex can still surge with seemingly unending ’bearish headlines’ mounting pressures persistently," she added.
  There is concern that the tariffs could curb demand for oil, and while there was strong travel demand during the U.S. holiday weekend on July 4, data from industry sources showed possible crude inventory builds in the U.S. of around 7.1 million barrels, though fuel products’ stocks were lower. [API/S]
  
  "Numbers from the API overnight were bearish for oil," said ING analysts in a client note, adding that "changes in refined products were more constructive".
  Official data from U.S. Energy Information Administration is scheduled to be out at 1430 GMT later today. [EIA/S]
  © Reuters. FILE PHOTO: A pump jack operates near a gas turbine power plant in the Permian Basin oil field outside of Odessa, Texas, U.S. February 18, 2025. REUTERS/Eli Hartman/File Photo
  On the longer term supply side, the U.S. will produce less oil in 2025 than previously expected as declining oil prices have prompted U.S. producers to slow activity this year, the Energy Information Administration forecast on Tuesday in a monthly report.
  The world’s largest oil producer is projected to produce 13.37 million barrels per day of oil in 2025, versus last month’s forecast of 13.42 million bpd, the EIA said in its short-term energy outlook report.
  Source: Reuters/Investing.com
- 2025-07-09
  Can the Oil Market Absorb OPEC+ Output Hikes?
  OPEC+ never fails to surprise speculators and market analysts. This weekend’s meeting to decide August production levels was expected to be a short routine video call to announce another output hike of 411,000 barrels per day (bpd). Short it was,... Read more OPEC+ never fails to surprise speculators and market analysts. This weekend’s meeting to decide August production levels was expected to be a short routine video call to announce another output hike of 411,000 barrels per day (bpd).
  
  Short it was, but the size of the increase for August was bigger than expected— 548,000 bpd. The eight OPEC+ members that are unwinding the cuts are expected to make another supersized increase in September, with which the 2.2 million bpd cuts will all be back on the market, at least the headline figures suggest so.
  
  However, no one is really sure by how much OPEC+ is actually raising oil production these days because some producers are pumping less than quotas to compensate for previous overproduction. Analysts concur that the supersized hikes are not that supersized.
  
  Summer Demand
  
  OPEC+ continues to rely on strong summer oil demand to absorb the additional barrels. The physical market appears to be tight in the near term, although the coming glut in the autumn and beyond is likely to push oil prices further down.
  
  Oil didn’t collapse following this weekend’s OPEC+ decision—a sign that there isn’t immediate fear of oversupply and that the market hasn’t shaken off entirely geopolitics-driven volatility.
  
  Immediately after the OPEC+ meeting, Saudi Arabia raised the official selling price (OSP) for its crude destined for Asia and Europe in August, betting on robust summer demand to soak up the additional supply.
  
  Related: U.S.-Colombia Diplomatic Clash Rattles Energy and Mining Stocks
  
  Current oil prices in the $60s per barrel are likely to encourage buying in Asia, as China continues to stockpile crude with high purchases at lower oil prices.
  
  May and June arrivals are set to be strong as cargoes contracted a month or two earlier were at prices near four-year lows.
  
  But much of the July, and especially August, supply was likely contracted in June, when oil spiked to four-month highs amid the Israel-Iran war. This suggests that Asian buyers, including top Asian crude importers China and India, likely bought lower volumes when prices were high.
  
  Since the ceasefire announced by U.S. President Donald Trump at the end of June, prices have largely returned to pre-conflict levels, allowing again price-sensitive opportunistic buyers to seek more supply.
  
  The current oil price, with Brent Crude in the high $60s per barrel, is the “right place” for crude prices, AS Sahney, chairman of state-owned Indian Oil Corporation, the biggest refiner in India, said earlier this week.
  
  “There is still some room for it to go downwards. What I see is very much near to $65, plus or minus one or two dollars, is the right place where we will be comfortable,” Sahney told the NDTV Profit outlet on Monday.
  
  If the strong Asian imports in May were largely due to low oil prices, then overall Asian demand later this summer may disappoint, as volumes contracted in June will be much lower due to the war premium in prices for most of last month.
  
  Hence, demand may not be as strong as it appears to be, Reuters columnist Clyde Russell argues.
  
  Weakness Beyond Summer
  
  The market is still tight in the near term, with the tightness reflected in the strength in the prompt Brent timespread, ING commodities strategists Warren Patterson and Ewa Manthey wrote in a note on Tuesday.
  
  “The expected supply surplus won’t materialise until later this year, when we expect more sustained downward price pressure,” they added.
  
  The middle distillate market is also tightening, more so than the crude market. Gasoil refining margins are rising, while speculators hold the largest net long position – the difference between bullish and bearish bets – in gasoil for a year, according to ING.
  
  In the United States, middle distillate inventories sit at their lowest level in more than two decades for this time of the year, the bank’s strategists noted.
  
  Saudi Aramco’s crude price hikes to all regions for August-loading cargoes also signal that physical markets remain tight, “suggesting the additional barrels can be absorbed—for now,” Ole Hansen, Head of Commodity Strategy at Saxo Bank, wrote in a Monday note.
  
  “In the short term, downside risks to crude appear contained,” Hansen said.
  
  “Compensation cuts from previous overproduction are helping offset new supply, while geopolitical uncertainty in the Middle East continues to discourage aggressive short positioning by speculators.”
  
  Recent consensus-beating economic data from the United States support a steady demand outlook, but continued trade tensions and tariff announcements somewhat dampen the bullish sentiment. In addition, “seasonal demand softening into autumn could emerge as headwinds in the months ahead,” Hansen noted.
  
  Despite signs of current physical market tightness, analysts do not expect prices to top $70 per barrel for a sustained period of time, barring another major escalation in the Middle East.
  
  Growing supply from the OPEC+ group, although not as high as the monthly headline figures suggest, is set to create an oversupply on the market going into autumn, even if summer demand holds strong. On the demand side, peak summer travel season may justify higher supply, but lingering trade and economic uncertainties may cap upside to prices. Source: Oilprice.com
- 2025-07-09
  Big Oil Braces for Oil Price Hit
  Earlier this week, Shell warned its second-quarter earnings would be weaker due to lower trade in gas and oil derivatives. Now, Exxon has joined its peer in the warning series, saying weaker oil and gas prices during the second quarter would affect its... Read more Earlier this week, Shell warned its second-quarter earnings would be weaker due to lower trade in gas and oil derivatives. Now, Exxon has joined its peer in the warning series, saying weaker oil and gas prices during the second quarter would affect its financial results, and rather substantially, at that. Big Oil is having a difficult moment. The question is whether it would extend in time.
  
  Back in May, Morgan Stanley predicted that the biggest international oil companies were set to see a slump in earnings later this year and in 2026, threatening the pace of buybacks, as a substantial oil market surplus would weigh on prices.
  
  The investment bank was by far not the only one predicting that global oil markets would be panting under the weight of all that oil that there is no demand for—almost everyone was predicting it. Yet something interesting happened this week that may make some forecasters reconsider. OPEC+ said it would boost production by over 500,000 bpd next month. Oil prices rose.
  
  Now, Exxon has warned that it would suffer a financial blow of $1.5 billion from weaker second-quarter prices. Most of the impact would come from the oil prices slum during the reporting period, Bloomberg reported Monday, citing the company. Some $500 million will be the share of natural gas prices. Yet the latest on oil markets suggests this is not turning into a chronic condition.
  
  “The supply picture definitely looks to be elevating, however, the stronger demand is remaining above expectations as well,” BOK Financial senior vice president of trading, Dennis Kissler, told Reuters this week. The reason demand is above expectations is because virtually all forecasters assumed demand for oil was on a downward spiral because of EVs in China and Norway, and it was only a matter of time before the spiral reached its natural end.
  
  Instead, oil demand—as reported by the Energy Institute in its latest Statistical Review of World Energy earlier this year—has remained impressively resilient. Not only this, but grim expectations for global economic gloom and doom amid Donald Trump’s unusual approach to trade policy have begun to subside as deals get signed and the U.S. president thinks twice about punitive tariffs. The world economy, it seems, will survive, after all.
  
  All these recent developments suggest Big Oil’s second-quarter financial troubles are a temporary trip on weak prices, which tends to happen on a rather regular basis given the cyclical nature of commodity markets. The record profits of 2022 may not return anytime soon—or ever—but those were an outlier, however much some analysts like to present them as business as usual. So was the Covid pandemic just two short years earlier, and it taught Big Oil a valuable lesson.
  
  “Our organisation has planned for this. We pressure-test our plans and the financial outcomes with scenarios that are more severe than our Covid experience,” Exxon’s Darren Woods said earlier this year, saying the company had prepared for a downturn, cutting almost $13 billion in costs over five years.
  
  It’s not the only one, although Wood claimed that no other company had come close to its cost-cutting achievement. All Big Oil companies remember the pandemic, the demand drop from the lockdowns, and the resulting financial disaster. Yet it survived that and went on to make up for it two years later, when Russian troops entered Eastern Ukraine and everyone thought World War III was around the corner. So, chances are these warnings from Exxon and Shell, and probably others, are business as usual. Some quarters are good, some not so much. Big Oil, and not just Big Oil, adapts and survives—for as long as there is demand for oil and gas.` Source: Oilprice.com
- 2025-07-09
  MABUX: Global bunker market to continue trending higher on Jul.09.
  The MABUX World Bunker Index—a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO— showed a modest upward movement on Jul.08: 380 HSFO - USD/MT - 466.10 (+2.52) VLSFO - USD/MT – 563.39 (+3.09) MGO - USD/MT – 788.36 (+3.78) As... Read more The MABUX World Bunker Index—a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO— showed a modest upward movement on Jul.08:
  
  380 HSFO - USD/MT - 466.10 (+2.52)
  VLSFO - USD/MT – 563.39 (+3.09)
  MGO - USD/MT – 788.36 (+3.78)
  
  As of Jul.08, the MABUX Market Differential Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP)— revealed the following pricing trends across key global ports: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: All four ports continued to show undervalued pricing. The discount widened by $3 in Rotterdam, $3 in Singapore, $4 in Fujairah, and $4 in Houston.
  
  • VLSFO segment: Rotterdam remained the only overpriced port, though its premium narrowed by $2, moving closer to a 100% correlation between MBP and DBP. Singapore, Fujairah, and Houston continued to be underpriced, with discounts increasing by $1 in Singapore, $8 in Fujairah, and $6 in Houston. Houston’s MDI approached the $100 threshold.
  
  • MGO LS segment: All four ports—Rotterdam, Singapore, Fujairah, and Houston—were undercharged. Discounts narrowed by $5 in Rotterdam and $2 in Singapore, while they widened by $4 in Fujairah and $1 in Houston. Fujairah’s MDI remained well above the $100 mark.
  
  We expect Global bunker market to maintain its upward trend on Jul.08: 380 HSFO – plus 1-3 USD/MT, VLSFO – plus 1-3 USD/MT, MGO LS – plus 4-9 USD/MT.
  Source: MABUX

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