Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
737.50
-2.00
660.00
-12.00
Sep 29
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	737.50	-2.00	660.00	-12.00	Sep 29

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
444.81	-6.48	516.56	-5.81	772.10	-7.59	Oct 3

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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	394	417	-23	434	468	-34	660	676	-16	Oct 3
Singapore	402	411	-9	475	504	-29	665	669	-4	Oct 3
Fujairah	393	387	+6	478	493	-15	718	732	-14	Oct 3
Houston	405	395	+10	465	453	+12	662	662	0	Oct 3

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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
- 2025-10-03
  Oil rises, but heads for weekly loss as market awaits OPEC’s November decision
  Oil prices rose on Friday but were headed for a weekly loss of about 7% or more after news of potential increases to OPEC+ supply. Brent crude futures were up 64 cents, or 1%, at $64.75 a barrel by 12:17 p.m. ET (1617 GMT). U.S. West Texas Intermediate... Read more Oil prices rose on Friday but were headed for a weekly loss of about 7% or more after news of potential increases to OPEC+ supply.
  Brent crude futures were up 64 cents, or 1%, at $64.75 a barrel by 12:17 p.m. ET (1617 GMT). U.S. West Texas Intermediate crude was up 72 cents, or 1.2%, at $61.17.
  For the week, Brent was trading down 7.6% and WTI was on course for a 7% decline.
  "Oil prices are stabilizing at $60.00 a barrel after falling over 7.5% this week, reaching a 16-week low," said Fiona Cincotta, senior markets analyst at City Index.
  "The market is steadying ahead of the OPEC+ meeting this weekend, where the group could agree to raise production by anywhere between 274,000 and 411,000 barrels per day. This is two to three times higher than the October increase as Saudi Arabia looks to reclaim market share."
  Eight OPEC+ countries are likely to further raise oil output on Sunday with the group’s leader Saudi Arabia pushing for a large increase to regain market share and Russia suggesting a more modest rise, four people with knowledge of the OPEC+ talks said.
  Potentially higher OPEC+ supply and slowing global crude refinery runs owing to maintenance and a seasonal dip in demand in the months ahead are set to weigh on market sentiment, analysts said.
  "Demand indicators have fallen a touch through the Atlantic Basin as summer demand comes to an end. The over-supplied implied balance from a fundamentals perspective starting in October is gaining ground," said Rystad Energy analyst Janiv Shah.
  
  JPMorgan analysts, meanwhile, said they believed September marked a turning point, with the oil market heading towards a sizeable surplus in the fourth quarter and into next year.
  Elsewhere on Friday, a fire broke out at Chevron’s El Segundo refinery overnight, though a county official said the flames had been confined to one area. The refinery is one of the largest on the U.S. West Coast, with capacity of 290,000 bpd.
  It was not immediately clear if there was any impact on production, but the impact on oil prices could be limited, analysts said.
  
  "The El Segundo refinery is on the West Coast, which is isolated from the rest of the U.S. as far as domestic oil flow is concerned; therefore, its impact is most likely negligible," said PVM analyst Tamas Varga.
  Saxo Bank analyst Ole Hansen said: "Apart from lifting already elevated gasoline prices in California, I don’t think the fire should have a broader market impact." Source: Reuters/Investing.com
- 2025-10-03
  New Clean Ports Report Card Project launched
  A coalition of environmentally-focused organisations have launched the Clean Ports Report Card Project – which they describe as an accountability tool designed to grade major US ports on their progress to cut emissions, increase transparency, and collaborate... Read more
- 2025-10-03
  Enilive HVO marine fuel now available in Ravenna and Genova
  Eni has confirmed to ship.energy that Enilive marine hydrotreated vegetable oil (HVO) is now available in the Italian ports of Ravenna and Genova. Enilive (the Eni company dedicated to sustainable mobility and decarbonised products and services), told... Read more
- 2025-10-03
  IBIA and BIMCO launch new survey on bunker licensing and mass flow meter uptake
  The International Bunker Industry Association (IBIA) are undertaking a follow-up survey to assess the impact of bunker licensing schemes (BL) and Mass Flow Meter (MFM) technology on ‘transparency, fuel quality, and regulatory alignment across the maritime... Read more
- 2025-10-03
  Danaos Corporation orders two methanol-ready containerships
  Athens-based Danaos Corporation has announced it has ordered two methanol-ready containerships. The 7,165 TEU (twenty-foot equivalent unit) container vessels will be built at Dalian Shanhaiguan shipyard in China and are expected to be delivered during... Read more
- 2025-10-03
  ABS gives the nod to fuel-saving autonomous tech
  Classification ABS has given its backing to two autonomous technology solutions that are expected to help ships’ save on fuel. HD Korea Shipbuilding & Offshore Engineering (HD KSOE), HD Hyundai Heavy Industries (HD HHI) and HD Hyundai Marine Solution... Read more
- 2025-10-03
  Oil on track for steepest weekly plunge in 3-1/2 months
  Oil prices rose slightly on Friday after four straight sessions of declines but were on track for their steepest weekly decline since late June due to market expectations that the OPEC+ group could hike output further despite oversupply concerns. Brent... Read more Oil prices rose slightly on Friday after four straight sessions of declines but were on track for their steepest weekly decline since late June due to market expectations that the OPEC+ group could hike output further despite oversupply concerns.
  Brent crude futures gained 18 cents, or 0.3%, to $64.29 a barrel by 0000 GMT. U.S. West Texas Intermediate crude climbed by 19 cents, or 0.3%, to $60.67 a barrel.
  If prices do not further recover in this session, Brent could close at the lowest level since the week ended May 30, while WTI would finish at a level not seen since May 2.
  On a weekly basis, Brent has plunged 8.3%, while WTI is 7.6% lower.
  OPEC+ could agree to raise oil production by up to 500,000 barrels per day in November, triple the increase for October, as Saudi Arabia seeks to reclaim market share, sources told Reuters this week.
  "If OPEC+ do go ahead and announce a 500,000 bpd increase this weekend, it’s likely a big enough increase to send crude oil lower again, initially to support at $58.00, before a test of this year’s lows $55.00 area," said Tony Sycamore, an analyst at IG.
  Potentially higher OPEC+ supply, slowing global crude refinery runs due to maintenance and a seasonal dip in demand in the months ahead are set to accelerate oil stock builds in the U.S. and elsewhere, analysts say.
  The Energy Information Administration said on Wednesday that U.S. crude oil, gasoline and distillate inventories rose last week as refining activity and demand softened.
  
  "Concerns that a US government shutdown will curtail economic activity and the resumption of Iraq’s Kurdish oil exports is also weighing on the crude price," Sycamore said.
  The Group of Seven nations’ finance ministers said on Wednesday they will take steps to increase pressure on Russia by targeting those who are continuing to boost purchases of Russian oil.
  Source: Reuters/Investing.com
- 2025-10-03
  Why Iraq Could Make or Break the Next Oil Price Move
  Last month, OPEC+ agreed to increase oil output from October by 137,000 barrels per day, a much lower clip compared to the 555,000 bpd increase announced for August and September and 411,000 bpd in June and July. That meant that the group has started... Read more Last month, OPEC+ agreed to increase oil output from October by 137,000 barrels per day, a much lower clip compared to the 555,000 bpd increase announced for August and September and 411,000 bpd in June and July. That meant that the group has started unwinding the second tranche of 1.65 million bpd in production cuts more than a year ahead of schedule, having fully unwound the first tranche of 2.5 million bpd since April. The eight members of OPEC+ are set to meet virtually on Sunday, 5th October, to determine the next course of action in unwinding production cuts. The consensus is for a further 137 thousand barrels per day (kb/d) increase in loadings for November, in the absence of any significant news. Media reports in late September claimed that the group might consider an accelerated rewinding programme, with the remainder being divided into three monthly increases of 500 kb/d. Judging by the still bearish sentiment in oil markets, the second scenario would likely result in an oil price selloff with concerns of oversupply returning to the forefront.
  
  However, it’s more likely that OPEC+ will stick to its former plan, in which case all eyes will turn to Iraq. As expected, OPEC+ outlined the proposed compensation cuts for overproduced volumes by six members, led by Iraq, which has proposed an immediate 130 kb/d adjustment from August 2025 through January 2026, before slowing to 122 kb/d in June 2026. Commodity analysts at Standard Chartered have noted that Iraq will do most of the heavy lifting in OPEC+’s latest round of unwinding, with the country’s cuts alone nearly enough to neutralize the increase by the rest of the members.
  
  In contrast, Kazakhstan has backloaded its compensation schedule, proposing to cut by only 35k b/d in December 2025, before increasing to 100 kb/d in January 2026, 300 kb/d in February, 450 kb/d in March, 490 kb/d in April, 550 kb/d in May, and 650 kb/d in June 2026 for a total of 2.63 mb/d. The analysts have predicted that Iraq's compliance will be critical for setting market sentiment around the legitimacy of compensation cuts.StanChart notes that Kazakhstan’s plan to backload most of its cuts goes contrary to previous plans to frontload them. Further, the analysts have pointed out that Iraq’s total contribution includes exports from the Kurdistan region (KRG), which is likely to return from suspension imminently, further complicating adherence to compensation cuts.
  
  Meanwhile, the UN has reimposed sanctions on Iran, completing the ‘snapback’ process that was initiated by the UK, France and Germany, marking the effective end of the 2015 nuclear deal (JCPOA). Last week’s meetings on the subject by the United Nations General Assembly (UNGA) were largely unproductive, forcing the UN to restore six former resolutions, including requiring Iran to terminate nuclear activities and enrichment of uranium. However, the most significant for the oil market is a resolution that authorizes the seizure of vessels, including oil tankers, suspected of arms or technology smuggling. Historically, many countries have in the past been reluctant to exercise this seizure authority because it often results in tit-for-tat vessel seizures. According to Kpler data, Iran currently exports ~1.5 million barrels of crude per day, down from 2.3 mb/d it managed before the latest raft of sanctions but more than triple the volumes it did at the end of Trump’s first term in office. A cross-section of analysts has argued that the snapback will have little effect in limiting Iran’s oil exports or its economy:
  
  "I see a limited economic impact, especially when it comes to energy," Rachel Ziemba, senior advisor at political risk consultancy Horizon Engage, told Argus Media. "This is due to the limited scope of the [returning] UN sanctions, the extent of existing US sanctions, and the breadth of the illicit trading relations," she added.
  
  Meanwhile, Europe’s gas stores continue filling up, with inventories rising by 0.84 billion cubic metres (bcm) w/w to reach 96.22bcm over the past week. Despite high demand due to the cold weather, Europe’s gas has been trading in a narrow range around €31–€33 per megawatt-hour over the past week to settle at €31.01/MWh in Thursday’s session. EU inventories currently stand at 82.3% of total capacity, with Germany at 76.6% while France and Italy are above 90%.
  
  Source: Oilprice.com
- 2025-10-03
  Nigeria’s Oil Boom Meets Its Refining Headache
  Nigeria is pumping more crude and drilling harder than it has in years, thanks to reforms under President Bola Tinubu that are finally coaxing cash back into the upstream. Daily output has climbed to between 1.7 and 1.83 million barrels, while active... Read more Nigeria is pumping more crude and drilling harder than it has in years, thanks to reforms under President Bola Tinubu that are finally coaxing cash back into the upstream. Daily output has climbed to between 1.7 and 1.83 million barrels, while active rigs surged from 31 in January to 50 by mid-year, Minister of State for Petroleum Heineken Lokpobiri told delegates at Africa Energy Week.
  
  The turnaround is pinned on the “Project One Million Barrels” initiative and the long-delayed Petroleum Industry Act, which the government insists has created a predictable playing field for investors. Lokpobiri pointed to over $5.5 billion in fresh investment decisions tied to asset divestments by IOCs—moves he said are adding some 200,000 bpd to national production. Nigeria, he declared, is “open for business.”
  
  But problems persist downstream. The country’s crown jewel refinery—Aliko Dangote’s $20 billion, 650,000-bpd plant in Lagos—is mired in strikes, sabotage claims, and financial headaches. Earlier this week, Nigeria’s top oil union launched a nationwide walkout after 800 refinery workers were sacked for alleged “acts of sabotage.” Dangote insists he’s rooting out bad actors; unions say he’s firing organizers. The strike has already shuttered offices at NNPC and key regulators, raising fears it could spill over into production if not resolved.
  
  Even before the labor brawl, the refinery was under pressure. Dangote has admitted to reselling crude cargoes and halting local fuel sales as currency distortions made operations unprofitable. Buying crude in dollars and selling fuel in a weakening naira is a recipe for red ink, and calls for government-backed import bans have underscored just how fragile the model is.
  
  Nigeria’s oil reforms may be luring rigs back to the delta, but if its refining dream continues to falter, the paradox remains: a top global crude exporter still at risk of shortages at home. Source: Oilprice.com
- 2025-10-03
  MABUX: Global bunker indices to extend decline on Oct.03.
  The MABUX World Bunker Index — a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO — continued its downward trajectory on Oct.02, marking the fourth consecutive trading day of losses: 380 HSFO: USD/MT 451.29 (-2.34) VLSFO: USD/MT... Read more The MABUX World Bunker Index — a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO — continued its downward trajectory on Oct.02, marking the fourth consecutive trading day of losses:
  
  380 HSFO: USD/MT 451.29 (-2.34)
  VLSFO: USD/MT 522.37 (-2.21)
  MGO: USD/MT 779.69 (-1.63)
  
  As of Oct.02 the MABUX Market Differential Index (MDI) — tracking the correlation between Market Bunker Prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP) — recorded the following trends across key global hubs (Rotterdam, Singapore, Fujairah, and Houston):
  
  • HSFO segment: Fujairah moved into the overcharge zone, joining Houston. The premium rose by $8 in Fujairah and $1 in Houston. Rotterdam and Singapore remained undercharged, though discounts narrowed by $4 and $5, respectively. MDI levels in Singapore, Fujairah, and Houston were close to full MBP–DBP correlation.
  
  • VLSFO segment: Houston remained the only overpriced hub, with its premium rising by $1. Rotterdam, Singapore, and Fujairah stayed undercharged, but discounts narrowed by $4, $9, and $15, respectively. Houston’s MDI remained close to a 100-percent MBP–DBP correlation.
  
  • MGO LS segment: All four hubs continued to be undercharged. The underprice widened by $4 in Rotterdam, $3 in Singapore, $5 in Fujairah, and $1 in Houston. Houston’s MDI was near-complete in terms of MBP–DBP correlation.
  
  We expect Global bunker indices to continue a downward trend on Oct.03: 380 HSFO – minus 2-5 USD/MT, VLSFO – minus 3-6 USD/MT, MGO LS – 5-10 minus USD/MT.
  Source: MABUX

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