Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 160.00
+171.00
1 265.00
+5.00
Jul 20
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 160.00	+171.00	1 265.00	+5.00	Jul 20

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
667.45	+2.53	819.67	+5.13	1 322.95	+13.13	Jul 24

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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	585	696	-111	710	791	-81	1 265	1 442	-177	Jul 24
Singapore	630	724	-94	873	897	-24	1 258	1 435	-177	Jul 24
Fujairah	640	676	-36	845	844	+1	1 443	1 498	-55	Jul 24
Houston	570	680	-110	760	792	-32	1 225	1 378	-153	Jul 24

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Digital Bunker Prices
Reasons, Mechanism, Benefits
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Analytical Section
- Daily and Weekly Bunker analyses and Future Curves
- World and regional Bunker indices
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- Digital Bunker Prices
MABUX for Industry
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Latest News
- 2026-07-24
  Oil prices on pace for weekly gain amid escalating Mideast conflict
  Oil prices fell on Friday, but were still set for a sharp weekly increase, as supply disruptions stemming from the conflict in the Middle East showed few signs of easing. Get more breaking news on oil markets and the Iran war by subscribing to InvestingPro... Read more Oil prices fell on Friday, but were still set for a sharp weekly increase, as supply disruptions stemming from the conflict in the Middle East showed few signs of easing.
  
  Get more breaking news on oil markets and the Iran war by subscribing to InvestingPro - now 60% off
  
  Brent oil futures, the global oil benchmark, declined by 3.3% to $97.39 a barrel by 10:07 ET (14:07 GMT), while U.S. West Texas Intermediate crude futures dropped 2.6% $89.78 a barrel.
  
  The Brent contract in particular was trading up more than 9% over the past one-week period, on track for its third straight week of gains.
  
  The U.S. military said it had concluded a 13th straight wave of strikes at Iranian targets early on Friday, as hostilities between Washington and Tehran showed little sign of relenting.
  
  American forces hit Iranian military assets, including drone storage sites and coastal surveillance posts, with the aim of denting Tehran’s ability to launch strikes at commercial vessels in the Strait of Hormuz, a vital waterway for oil flows that Iran has effectively shuttered for months.
  
  Meanwhile, Iran has rejected a U.S.-backed ceasefire proposal delivered by Iraqi Prime Minister Ali al-Zaidi, The New York Times reported on Thursday, citing Iranian and Iraqi officials. According to the report, Tehran said it was unwilling to accept a temporary deal that left unresolved the issue of control over the Strait of Hormuz, one of the world’s most important oil shipping chokepoints. The proposal was said to be the only ceasefire offer currently under consideration.
  
  Earlier this week, U.S. President Donald Trump warned of "major military" action against Iran and the Houthis after the Yemeni group said it had attacked two Saudi oil tankers in the Red Sea, possibly opening a new front in the fighting near the Bab el-Mandeb Strait, a narrow conduit linking the Red Sea with the Gulf of Aden. Faced with the prospect of crude supply disruptions in both the Strait of Hormuz and Bab el-Mandeb Strait, oil prices jumped, with Brent even briefly reaching $100 a barrel for the first time since May.
  
  "The most obvious impact of the escalation could be seen in energy prices," analysts at Deutsche Bank said in a note.
  
  Oil prices have gyrated in recent weeks as investors race to keep up with developments in the Middle East. Shortly after the signing of an interim -- and seemingly short-lived -- U.S.-Iran ceasefire deal in June, Brent prices were at one point trading around pre-war levels of roughly $70 a barrel. Source: Investing.com
- 2026-07-24
  MABUX: Technical maintenance
  Dear Subscribers! Scheduled technical maintenance for software updates will be carried out on the MABUX website from 25 July, 9:00 CET to 26 July, 18:00 CET. During this period, access to the website and some of its services may be temporarily limited.... Read more Dear Subscribers!
  
  Scheduled technical maintenance for software updates will be carried out on the MABUX website from 25 July, 9:00 CET to 26 July, 18:00 CET. During this period, access to the website and some of its services may be temporarily limited. To avoid any disruption, we recommend completing any important operations on the MABUX platform before 22:00 CET on 24 July. We apologize for any inconvenience this may cause and appreciate your understanding.
  
  The MABUX Team Source: MABUX
- 2026-07-24
  EBRD, EU providing funding for electrification project at Port of Constanța
  The European Bank for Reconstruction and Development (EBRD) has announced it is providing a senior loan of up to €25 million to Constanța South Container Terminal (CSCT), a wholly owned subsidiary of DP World, to support the electrification of operations... Read more
- 2026-07-24
  Korea-U.S. Shipbuilding Partnership Center opened
  The Korea-U.S. Shipbuilding Partnership Center (KUSPC) – which aims to serves a hub for cooperation between the two countries’ industries, academia and research institutions – was yesterday (23 July) officially opened at a ceremony in Washington DC. Alongside... Read more
- 2026-07-24
  RSP and RST ink Rotterdam shore power development agreement
  Rotterdam Shore Power (RSP) – the joint venture between the Port of Rotterdam and Eneco – and Rotterdam Shortsea Terminals (RST) have signed a cooperation agreement for the development of shore power at the latter’s terminal. The agreement was signed... Read more
- 2026-07-24
  Bunkering vessels included in the ‘shadow fleet’ in the EU’s latest package of sanctions against Russia
  The European Union’s 21st package of sanctions against Russia, which was formally adopted yesterday (23 July), includes oil price cap adjustments, changes to the measures on LNG tanker resales – and the inclusion of five bunkering vessels in the sanctioned... Read more
- 2026-07-24
  Tsuneishi Solutions Tokyobay delivers first methanol low-flashpoint fuel supply system for Kamsarmax
  Japan-based Tsuneishi Solutions Tokyobay (T-Sol) has announced it has delivered a methanol fuel supply system (LFSS) for medium- and low-speed diesel engines. This LFSS is the first unit of T-Sol’s proprietary LFSS developed in-house and will be installed... Read more
- 2026-07-24
  Brent hovers above $100/bbl, set for weekly rise on Middle East escalation
  Brent oil prices hovered above $100 per barrel on Friday while heading for their fourth week of gains, driven by concerns about disrupted energy flows in the Red Sea and fears of further escalation in the U.S.-Israeli war on Iran. Brent futures advanced... Read more Brent oil prices hovered above $100 per barrel on Friday while heading for their fourth week of gains, driven by concerns about disrupted energy flows in the Red Sea and fears of further escalation in the U.S.-Israeli war on Iran.
  
  Brent futures advanced 37 cents, or 0.37%, to $101.06 a barrel at 0330 GMT, having settled up 7% above $100 in the previous session for the first time since May, after Iran-aligned Houthis said they struck two Saudi oil tankers in the Red Sea.
  
  The contract remained on course for a 14.6% advance this week.
  
  West Texas Intermediate (WTI) futures were little changed at $91.20 a barrel, their highest level since June 11 and on track for an 11.8% weekly rise.
  
  "The potential supply disruptions facing the market now are larger than at any time during the war," ING analysts said in a note on Friday. "Not only have oil flows through the Strait of Hormuz essentially dried up, but there are clear risks to Saudi oil flows from the Red Sea."
  
  "Further escalation in the Gulf and fears of a widening conflict are putting a significant amount of oil supply at risk."
  
  The number of tankers crossing through the Strait of Hormuz fell to just one on Thursday, the lowest since May 7, according to ship-tracking data from Kpler, an analytics firm.
  
  The Bab el-Mandeb shipping route controls access from the Red Sea to the Indian Ocean and is the second-most-important oil channel after the Strait of Hormuz.
  
  U.S. President Donald Trump vowed to "hold Iran responsible" for any further attacks.
  
  The Iran-aligned Houthis had declared on Monday that they were imposing a naval blockade on Saudi Arabia, which had been diverting its oil via pipeline to get around Iran’s closure of the Strait of Hormuz.
  
  Iran had been pressing the Houthis to close the Bab el-Mandeb gateway to the Red Sea if the U.S. continued to attack Iranian power infrastructure, after an interim truce between the two countries collapsed two weeks ago.
  
  Also on Thursday, Kazakhstan’s energy ministry said oil companies temporarily cut back production after suspected Ukrainian drone attacks forced the country’s main Black Sea export terminal to close.
  
  The Caspian Pipeline Consortium stopped receiving oil from Kazakhstan after suspending loadings because of attacks on tankers at the terminal, industry sources said on Tuesday. The route handles about 2% of the world’s daily crude supply.
  
  Kazakhstan’s energy ministry did not specify the scale of the production reductions, but one source said the country’s biggest field had cut output by more than half. Source: Reuters/Investing.com
- 2026-07-24
  OPEC+ Set to Raise Output Again—Even as Members Can't Pump It
  OPEC+ is expected to approve another production target increase when eight key producers meet on August 2, extending a months-long campaign to unwind voluntary supply cuts that have existed largely on paper since the Iran war upended Gulf exports. Reuters... Read more OPEC+ is expected to approve another production target increase when eight key producers meet on August 2, extending a months-long campaign to unwind voluntary supply cuts that have existed largely on paper since the Iran war upended Gulf exports.
  
  Reuters reported Thursday that Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman are expected to raise their combined September production target by another 188,000 barrels per day, matching the increases announced for June, July, and August.
  
  The problem is that quotas have been rising while actual production has been moving in the opposite direction.
  
  According to OPEC's own data, the group produced 36.28 million bpd in June, down from nearly 43 million bpd before the war began in February. Repeated disruptions to shipping through the Strait of Hormuz, followed by renewed attacks on vessels in the Red Sea, have prevented several Gulf producers from restoring exports despite higher official targets.
  
  Brent crude topped $100 a barrel Thursday after Houthi attacks on Saudi-linked tankers raised fresh concerns about traffic through the Bab el-Mandeb Strait. Saudi Arabia shifted much of its crude exports to the Red Sea after Hormuz became unreliable. That alternative route is now coming under pressure as well.
  
  If approved, September's increase would complete the rollback of the 1.65 million bpd voluntary production cut adopted in 2023, adjusted for the UAE's departure from OPEC earlier this year. Reuters calculations show the seven producers will have restored roughly 1.15 million bpd of quotas since April.
  
  Iraq remains constrained by export bottlenecks. Kazakhstan has begun cutting production after drone attacks shut down tanker loadings at the Caspian Pipeline Consortium terminal on the Black Sea, forcing operators to reduce upstream flows. Russia continues to face refinery disruptions from Ukrainian drone strikes. Saudi Arabia has available production capacity but faces growing risks to its export infrastructure.
  
  The production increases still serve a purpose. Higher quotas signal that OPEC+ intends to replace lost barrels as soon as export routes allow it. Source: Oilprice.com
- 2026-07-24
  Ukraine’s Drone War Is Choking Kazakhstan’s Oil Exports
  Kazakhstan should, in theory, be one of the major beneficiaries of Russia’s growing isolation from global energy markets. Its crude is unsanctioned and European refiners need alternatives to Russian barrels. Yet instead of gaining a clear geopolitical... Read more Kazakhstan should, in theory, be one of the major beneficiaries of Russia’s growing isolation from global energy markets. Its crude is unsanctioned and European refiners need alternatives to Russian barrels. Yet instead of gaining a clear geopolitical advantage, Kazakhstan has found itself exposed to many of the same risks as its northern neighbour: attacks on export infrastructure, disruptions inside Russia and repeated operational failures at its own largest fields.
  
  The roots of that vulnerability lie partly in geography and partly in the regional energy system Kazakhstan inherited from the USSR. The Caspian Pipeline Consortium (CPC) is the most important example. The pipeline was conceived and built after the collapse of the Soviet Union to provide the giant Tengiz field and other western Kazakh producers with direct access to international markets. It carries crude more than 1,500 kilometres from Kazakhstan to a dedicated Black Sea terminal near Novorossiysk (Russia), following the shortest and most economical route from the Caspian production basin to the sea.
  
  CPC exports averaged about 1.7 million b/d in the last 3 months, including around 1.42 million b/d to Europe and 280,000 b/d to Asian buyers. Overall, that stands for 80% of total Kazakh crude exports. Such a concentration could be efficient in normal conditions but dangerous in a crisis - when CPC stops, Kazakhstan does not lose one export route among many; it loses the backbone of its oil trade.
  
  The war in Ukraine has made that dependence increasingly dangerous. The Novorossiysk region (where the CPC oil terminal is located) has repeatedly come under Ukrainian drone attack, while vessels linked to CPC loadings have also faced growing security risks. A naval drone strike in November 2025 severely damaged one of CPC’s single-point moorings, and repeated attacks on tankers in 2026 further undermined confidence among shipowners, charterers and contractors. By July 21, CPC had stopped accepting crude into the pipeline from Kazakhstan after loadings were suspended. As of July 23, no authoritative confirmation of a full restart had emerged. Even though terminal infrastructure right now remains intact, the commercial effect resembles physical destruction. Tanker owners and operators (including ExxonMobil and Chevron) refuse to call at the terminal, being reluctant to expose vessels and crews to repeated attacks.
  
  As a result, Europe is particularly exposed. Italy’s port of Trieste is the largest destination for CPC exports globally, with a steady 300,000 b/d flow providing a lifeline for Austrian, Czech and German refiners. France, the Netherlands, Spain and Greece are also major destinations.
  
  A prolonged disruption would tighten Mediterranean supply and force refiners toward longer-haul barrels from the Atlantic Basin. Yet CPC Blend is not that easy to replace. It is light, at around 45 degrees API, but contains about 0.6% sulphur, leaving it sourer than grades such as Azeri Light or Saharan Blend. Refineries need sufficient desulphurisation capacity to process it efficiently.
  
  Before the latest disruption, CPC Blend traded at a discount to Dated Brent that had widened to around $3 per barrel before narrowing towards $2 over the past four months amid the Middle East crisis. The discount reflected the grade’s quality profile and abundant supply following the 2025 Tengiz expansion, as well as weak European refining demand. It also captured the rising cost and uncertainty of handling a crude stream whose logistics are increasingly exposed to the Russia-Ukraine war.
  
  A prolonged halt to loadings at the CPC terminal will inevitably increase crude oil differentials in the Mediterranean, but Kazakhstan itself would be poorly placed to benefit because its barrels could not reach the market. Instead, alternative regional suppliers (most notably Libya and Azerbaijan) would be better positioned to fill part of the shortfall and capture the resulting price upside.
  
  Kazakhstan has alternatives, but none can absorb a major CPC outage. The Atyrau–Samara pipeline can carry crude into Russia’s Transneft system, but it handled only around 220,000 b/d in 2025 against nominal capacity of roughly 350,000 b/d. Those barrels, marketed as KEBCO, still depend on Russian pipelines and ports (where, ironically, they might get droned again)
  
  The Kazakhstan–China pipeline offers about 400,000 b/d of capacity, but it is already integrated into regional flows and is also used to transport Russian crude to China. Diverting any incremental Kazakh barrels eastward would require major commercial and logistical adjustments. The most frequently discussed non-Russian option is the route from Aktau across the Caspian Sea to Baku and then through the Baku–Tbilisi–Ceyhan (BTB) pipeline. Current volumes are only around 30,000 b/d, largely because the Caspian Sea is extremely shallow and only allows navigation for ships that carry up to 15,000 tonnes (10% of the usual Suezmax load volume).
  
  Moreover, the Kazakh port of Aktau lacks sufficient storage and loading capacity, while the Caspian tanker fleet is limited. Kazakhstan and Azerbaijan have discussed lifting shipments to as much as 140,000 b/d in 2027, but that would require expanded ports, more tankers and new infrastructure. Building additional Caspian vessels is also unusually expensive because the sea (which is in fact a salt-water lake) is landlocked and new ships must be constructed locally rather than sailed in from global markets. Even if achieved, 140,000 b/d would replace only a fraction of 1.4 million b/d CPC flows. The route is strategically useful, not a near-term CPC substitute.
  
  Kazakhstan’s vulnerability extends beyond transportation. Karachaganak (one of 3 Kazakh major oil and gas fields) depends on Russia’s Orenburg gas processing plant because the field produces liquids along with large volumes of sour associated gas. Much of that gas is sent across the border for processing. When Orenburg reduces intake, Karachaganak must curb gas production and therefore liquids output as well.
  
  Following a drone strike on Orenburg on June 24, Karachaganak’s liquids output reportedly fell from around 34,000 t/d to 25,000 t/d, equivalent to a decline of roughly 70,000 b/d. That might be modest when looking at total CPC exports but significant for the 300,000 b/d capacity field itself.
  
  Tengiz field has added another layer of instability. A fire and power outage in January temporarily halted production at Tengiz and the nearby Korolev field, cutting output from around 900,000 b/d to 360,000 b/d and forcing the field operator Tengizchevroil to declare force majeure on CPC Blend supplies (which dropped to roughly 880,000 b/d that month). Another operational incident in May caused a further sharp, although brief, decline. Overall, the Tengiz oilfield has always been at the forefront of output cuts in the country: the suspended loading at the CPC terminal has led to the halving of production to 406,000 b/d (from 925,000 b/d on average in July), while the total Kazakhstan crude oil production dropped to 1.63 million b/d this week (in comparison to July’s average volumes of 2.07 million b/d).
  
  Kazakhstan therefore currently faces a three-part oil crisis: an export system concentrated on one war-exposed route, alternative corridors too small (and unworkable) to compensate, and major fields suffering recurring operational disruptions. The consequences extend beyond Kazakhstan’s oil and gas industry, as CPC and KEBCO together accounted for almost 15% of EU crude imports in June, while oil-related revenues support roughly half of Kazakhstan’s state budget. Higher regional prices may help other suppliers, but they offer little protection to a producer that cannot guarantee access to the market. Kazakhstan’s problem is not a lack of oil or buyers. It is the growing fragility of the infrastructure linking the two. Source: Oilprice.com

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