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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 221.00
+371.00
1 100.00
+40.00
Mar 10
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 221.00	+371.00	1 100.00	+40.00	Mar 10

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
784.64	+30.97	949.18	+61.19	1 344.11	+74.97	Mar 12

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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	700	586	+114	750	650	+100	1 100	1 116	-16	Mar 12
Singapore	920	593	+327	1 153	708	+445	1 735	1 109	+626	Mar 12
Fujairah	893	548	+345	1 020	692	+328	1 450	1 172	+278	Mar 12
Houston	610	557	+53	710	650	+60	1 130	1 079	+51	Mar 12

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Latest News
- 2026-03-12
  EU Mulls Capping Gas Price as Energy Costs Spike on Iran War
  The European Union is considering emergency relief measures in the wake of the energy price spike amid the Middle East war, including capping the price of natural gas, European Commission President Ursula von der Leyen said on Wednesday. The price... Read more The European Union is considering emergency relief measures in the wake of the energy price spike amid the Middle East war, including capping the price of natural gas, European Commission President Ursula von der Leyen said on Wednesday.
  
  The price spike in oil and gas prices during the ten days of war have already cost the European taxpayer an additional 3 billion euros, or $3.5 billion, in fossil fuel imports, von der Leyen told the European Parliament today.
  
  “Households and companies face pressure now. So we must deliver relief now,” the top EU official said.
  
  It is crucial that the European Commission reduce the cost impact, when gas sets the electricity price, she added
  
  “We are preparing different options—better use of Purchase Power Agreements and contracts for difference, state aid measures, and we are exploring subsidizing or even capping the gas price,” von der Leyen said.
  
  In 2022, the EU put into place an emergency cap on gas prices following the Russian invasion of Ukraine and the halt to Russian pipeline gas supply to most European countries. That cap has never been triggered, though.
  
  European benchmark gas prices have soared to a nearly three-year high since Qatar announced it is halting LNG production at Ras Laffan, the world’s biggest liquefaction complex, issued force majeure notices to customers, and the Strait of Hormuz became inaccessible for tanker traffic.
  
  Last week, the European gas price soared by 67% for the steepest weekly gain since the energy crisis of 2022, as the Strait of Hormuz, through which 20% of global LNG flows pass, is effectively closed for traffic.
  
  With 20% of global LNG flows out of the market for weeks, at best, Europe began losing the competition for spot supply with Asia.
  
  Asia is attracting most flexible-destination LNG cargoes away from Europe amid renewed competition for supply. A growing number of LNG cargoes that were initially en route to Europe have sharply diverted in the Atlantic toward Asia via the Cape of Good Hope. Source: Oilprice.com
- 2026-03-12
  Oil climbs as tankers are attacked in Iraqi waters amid Middle East war
  Oil prices climbed on Thursday after Iraqi security officials said Iranian explosive-laden boats had hit two fuel oil tankers amid other global supply disruptions from the U.S.-Israeli war on Iran. Brent futures rose $5.69, or 6.19%, to $97.67 a barrel... Read more Oil prices climbed on Thursday after Iraqi security officials said Iranian explosive-laden boats had hit two fuel oil tankers amid other global supply disruptions from the U.S.-Israeli war on Iran.
  
  Brent futures rose $5.69, or 6.19%, to $97.67 a barrel at 0118 GMT, and U.S. West Texas Intermediate (WTI) crude was up $5.11, or 5.86%, to $92.36.
  
  Two foreign tankers carrying Iraqi fuel oil were hit by unidentified attackers in Iraq’s territorial waters, causing them to catch fire, the director general of the General Company for Ports, Farhan al-Fartousi, told Reuters on Wednesday.
  
  An initial investigation from Iraqi security officials showed explosive-laden boats from Iran had hit the two tankers.
  
  "This appears to mark a direct and forceful Iranian response to the IEA’s overnight announcement of a massive strategic reserve release aimed at cooling runaway prices," said Tony Sycamore, an IG analyst.
  
  The International Energy Agency agreed to release a record 400 million barrels of oil to help rein in prices that have spiked due to supply shocks from the U.S.-Israeli war on Iran. The U.S. is contributing the bulk of that release - 172 million barrels - from its Strategic Petroleum Reserve.
  
  "The IEA’s release of oil reserves may be only a temporary solution, as disruptions to oil shipments through the Strait of Hormuz and a major production halt in some Middle Eastern countries could cause a long-term supply crunch," said Tina Teng, market strategist at Moomoo ANZ.
  
  U.S. President Donald Trump said on Wednesday that Washington was in "very good shape" in its war on Iran and that the U.S. was "going to look very strongly at the straits."
  
  U.S. intelligence indicates, however, that Iran’s leadership is still largely intact and is not at risk of collapse any time soon, according to sources familiar with the matter.
  
  "Oil prices continued to face upside pressure as there were no signs of war de-escalation in the Middle East," said Teng. Source: Reuters/Investing.com
- 2026-03-12
  Shell and TotalEnergies Issue Force Majeure After Qatar LNG Shut Down
  Several major energy traders have begun declaring force majeure to their own customers after Qatar’s LNG shutdown rippled through global gas markets, according to Reuters sources on Wednesday. Companies including Shell and TotalEnergies–both major... Read more Several major energy traders have begun declaring force majeure to their own customers after Qatar’s LNG shutdown rippled through global gas markets, according to Reuters sources on Wednesday.
  
  Companies including Shell and TotalEnergies–both major portfolio players that lift liquefied natural gas from QatarEnergy–have notified downstream buyers that contractual deliveries may be disrupted following Qatar’s suspension of LNG production.
  
  The move marks the first clear sign that Qatar’s export stoppage is cascading through the global LNG trading system.
  
  QatarEnergy halted production at its giant LNG complex earlier this month and declared force majeure on shipments after drone strikes hit facilities at Ras Laffan Industrial City and Mesaieed Industrial City. The country operates roughly 77 million tons per year of liquefaction capacity and is the world’s second-largest LNG exporter.
  
  Shell and TotalEnergies are among the largest marketers of Qatari LNG worldwide. Analysts estimate Shell lifts about 6.8 million tons per annum of LNG from Qatar while TotalEnergies takes roughly 5.2 million tons per year, reselling the cargoes to utilities and industrial buyers across Europe and Asia.
  
  Neither company publicly confirmed the force majeure declarations. Shell declined to comment, while TotalEnergies did not immediately respond to requests for comment.
  
  Qatar’s shutdown has already halted LNG exports for days at a time. According to Kpler vessel-tracking data cited by Bloomberg, the country recorded five consecutive days without any LNG shipments — the longest interruption since 2008.
  
  The disruption has removed a major portion of global LNG supply from the market. No LNG carrier has transited the Strait of Hormuz since February 28, affecting cargoes from Qatar as well as shipments normally leaving the United Arab Emirates.
  
  With Qatar accounting for roughly 20% of global LNG exports, the halt has pushed Asian and European gas markets higher as buyers scramble for alternative supply.
  
  Some cargoes originally headed to Europe have already been diverted toward higher-priced Asian markets, tightening availability for European utilities.
  
  Qatar’s energy minister Saad al-Kaabi told the Financial Times that restoring normal LNG deliveries could take “weeks to months,” even if the conflict in the region were to end immediately.
  
  Sources told Reuters that LNG deliveries scheduled for March are largely expected to proceed as planned, with the main impact of the shutdown likely to begin affecting contractual supply from April onward. Source: Oilprice.com
- 2026-03-12
  IEA Launches Record 400-Million-Barrel Emergency Oil Release
  The International Energy Agency (IEA) and its member nations have agreed to release a record 400 million barrels of oil from strategic reserves in an attempt to stabilize global energy markets as the war involving Iran continues to disrupt crude flows... Read more The International Energy Agency (IEA) and its member nations have agreed to release a record 400 million barrels of oil from strategic reserves in an attempt to stabilize global energy markets as the war involving Iran continues to disrupt crude flows through the Strait of Hormuz.
  
  The coordinated action, announced Wednesday by the IEA, represents the largest emergency oil release ever organized by the group and only the sixth such intervention since the IEA was created following the 1970s oil shocks. The move comes as tanker traffic through the Strait of Hormuz, which serves as the critical chokepoint for roughly 20% of global oil and LNG trade, has slowed sharply amid escalating military activity in the Gulf.
  
  IEA Executive Director Fatih Birol described the decision as a “major action” aimed at easing the supply shock now hitting global energy markets, according to reporting by NPR. Member countries collectively control roughly 1.8 billion barrels of emergency stockpiled crude and refined fuels that can be deployed during severe disruptions to global supply.
  
  Precise allocations from each country have not yet been announced, though the release will draw from reserves held by the IEA’s 32 member states including the United States, Japan, South Korea, Canada and most European economies. Association partners such as China and India are expected to monitor the situation closely as markets attempt to stabilize.
  
  Oil prices have swung wildly since the conflict escalated, climbing from roughly $70 per barrel before the war to nearly $120 during the height of supply fears before retreating toward the $90 range on Wednesday, as Washington attempted to quell fears of a protracted war.
  
  The intervention follows days of uncertainty over whether major consuming nations would tap emergency reserves. Earlier this week, G7 finance ministers had delayed a decision on releasing strategic oil stocks while assessing the severity of the supply disruption.
  
  The United States holds the world’s largest government-controlled crude stockpile in its Strategic Petroleum Reserve, which currently contains about 415 million barrels out of a maximum capacity of 715 million. According to the latest industry estimates, U.S. commercial crude inventories fell by 1.7 million barrels in the week ending March 6 while SPR volumes remained unchanged.
  
  The emergency action is designed to offset the sudden loss of millions of barrels per day of crude shipments normally transiting the Strait of Hormuz as the conflict continues to destabilize energy trade routes across the Gulf. Source: Oilprice.com
- 2026-03-12
  Iranian Drone Strike Hits Oman’s Largest Oil Storage Facility
  Iranian drones struck oil storage facilities at the Port of Salalah in Oman on Wednesday, marking the latest attack on Gulf energy infrastructure as the regional war expands into a full-scale confrontation over global oil supply. Fuel storage tanks... Read more Iranian drones struck oil storage facilities at the Port of Salalah in Oman on Wednesday, marking the latest attack on Gulf energy infrastructure as the regional war expands into a full-scale confrontation over global oil supply.
  
  Fuel storage tanks at the port were hit in the strike, according to maritime security firm Ambrey and Omani state media, though no merchant vessels in the area were damaged.
  
  The attack is the newest incident in a widening campaign targeting energy logistics and oil infrastructure across the Middle East during the ongoing 2026 war involving Iran, the United States, and Israel.
  
  Salalah, located on Oman’s southern coast along the Arabian Sea, has become an increasingly important hub for tankers seeking to bypass the increasingly dangerous Strait of Hormuz. The strike raises fresh concerns that Iran is expanding the conflict beyond the Gulf chokepoint and into alternative export routes used by oil producers and shipping companies.
  
  A Pattern of Energy Infrastructure Attacks
  The strike follows several similar incidents targeting oil and gas facilities across the region since the conflict began in late February.
  
  Earlier this month, drones hit a fuel storage tank at the Port of Duqm in Oman, another strategic energy hub located outside the Strait of Hormuz.
  
  Iran-linked strikes have also targeted Saudi Arabia’s massive Ras Tanura oil refinery, briefly forcing operations to halt after drone debris sparked a fire at the facility.
  
  Ships Attacked in Strait of Hormuz
  Iran also targeted vessels attempting to transit the Strait of Hormuz on Wednesday, according to statements from the Islamic Revolutionary Guard Corps reported by Iran’s semi-official Fars News Agency.
  
  The Thai-flagged bulk carrier Mayuree Naree was fired upon after “disregarding warnings and insistently attempting to illegally pass through the Strait of Hormuz,” the IRGC said. Another vessel, the Liberian-flagged Express Rome, was also struck by Iranian projectiles after ignoring warnings from Iranian naval forces, according to the statement.
  
  Ship-tracking data from MarineTraffic showed that both vessels had been operating in the Strait earlier in the day.
  
  According to the UK Maritime Trade Operations (UKMTO), at least 13 vessels have been attacked across the Persian Gulf, Strait of Hormuz, and Gulf of Oman since hostilities began on February 28 following U.S.-Israeli strikes on Iran and Tehran’s retaliatory response. Three of those incidents occurred on Wednesday alone.
  
  Earlier in the day, a spokesperson for Tehran’s Khatam al-Anbiya military command headquarters warned that Iran “will never allow even a single liter of oil to pass through the Strait of Hormuz for the benefit of the United States, the Zionists, or their partners.”
  
  With attacks now targeting ports, storage facilities, and commercial shipping simultaneously, analysts warn the conflict is increasingly evolving into a broader campaign aimed at disrupting the Middle East’s energy supply network. Source: Oilprice.com
- 2026-03-12
  Aramco Asks Asian Buyers for Dual Red Sea-Hormuz Oil Supply Plans
  Saudi Arabia’s oil giant Aramco is requesting from Asian buyers to nominate crude loading plans for April for both its key export port in the Gulf and the export alternative on the Red Sea, multiple sources told Reuters on Wednesday. The crisis at... Read more Saudi Arabia’s oil giant Aramco is requesting from Asian buyers to nominate crude loading plans for April for both its key export port in the Gulf and the export alternative on the Red Sea, multiple sources told Reuters on Wednesday.
  
  The crisis at the Strait of Hormuz has reverberated through global markets. With the Strait effectively blocked for tanker traffic, Saudi Arabia has diverted part of its crude oil exports from the Ras Tanura export terminal in the Gulf that needs free-flowing traffic through Hormuz to the Yanbu export port on the Red Sea.
  
  The loading option at Yanbu applies only to the purchase of Arab Light, Saudi Arabia’s flagship crude grade, according to Reuters’ sources.
  
  Saudi Arabia can replace a small portion of the lost export option at the Ras Tanura port with loadings from Yanbu, which bypass the Strait of Hormuz.
  
  Saudi Aramco uses the East-West pipeline which on paper has the capacity to move about 7 million barrels per day (bpd) of crude towards the Red Sea. But there’s the question about how much can the terminals at Yanbu load, with some estimates putting this capacity at around 3 million bpd, Vortexa said last week.
  
  Between March 1 and 9, immediately after the Strait of Hormuz was effectively shut for tanker traffic, loadings at Yanbu averaged 2.2 million bpd, doubled compared to the February average, according to LSEG data cited by Reuters.
  
  From the Strait of Hormuz, Aramco shipped some 6 million bpd before the blockage.
  
  Yanbu on the Red Sea cannot offset all the lost shipments via the Strait of Hormuz. That’s why Saudi Arabia and the other top Gulf oil producers have slashed crude oil production in recent days as storage capacity fills up and the crude doesn’t have a way out of the Strait of Hormuz.
  
  Saudi Arabia has slashed its oil production by between 2 million bpd and 2.5 million bpd, anonymous sources familiar with the situation told Bloomberg on Tuesday. Source: Oilprice.com
- 2026-03-12
  Iran Warns Oil Could Hit $200 per Barrel as Hormuz Threat Escalates
  Oil markets are bracing for an even bigger potential price shock with Iran on Wednesday warning that crude could surge to $200 per barrel if the war involving the U.S. and Israel continues to destabilize the Middle East’s energy corridors. Ebrahim... Read more Oil markets are bracing for an even bigger potential price shock with Iran on Wednesday warning that crude could surge to $200 per barrel if the war involving the U.S. and Israel continues to destabilize the Middle East’s energy corridors.
  
  Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya military command headquarters, warned the world to “get ready for oil to be $200 a barrel,” arguing that regional security has been destabilized by the ongoing bombing campaign against Iran.
  
  The $200 oil price tag warning follows a major Iranian drone strike on Wednesday on Oman’s largest oil storage facility.
  
  Tehran also warned that no oil shipments will be allowed to pass through the Strait of Hormuz until the attacks stop, placing the world’s most critical oil chokepoint at the center of the escalating conflict.
  
  The narrow waterway between Iran and Oman normally handles roughly 20% of global oil supply and a large share of LNG trade, making any sustained disruption a major threat to global energy markets.
  
  Oil prices have already reacted violently to the growing risk. Brent crude briefly surged to around $120 per barrel earlier this week before retreating toward the $90 range after U.S. President Donald Trump suggested the conflict might end soon. Renewed attacks on shipping and infrastructure, however, have quickly revived fears of supply disruptions.
  
  Security incidents across the Persian Gulf are continuing to mount. Maritime authorities and ship-tracking firms report a growing number of attacks on commercial vessels operating near the Strait of Hormuz, with several ships struck in the latest round of incidents.
  
  Tanker movements through the region have already begun slowing as insurers and ship operators reassess the risks of transiting the corridor.
  
  Energy analysts say the conflict is increasingly evolving into a direct confrontation over the Middle East’s oil supply network, with strikes now targeting ports, storage terminals, commercial shipping and export routes across the region. Source: Oilprice.com
- 2026-03-12
  China Stockpiles Soften the Blow of the Global Oil Shock
  The world’s top crude oil and LNG importer, China, is not as exposed and vulnerable to energy deliveries from the Middle East as one might think. China has been amassing crude volumes in storage for months, it has been working for years to diversify... Read more The world’s top crude oil and LNG importer, China, is not as exposed and vulnerable to energy deliveries from the Middle East as one might think.
  
  China has been amassing crude volumes in storage for months, it has been working for years to diversify oil and gas supply sources and routes, and has boosted the share of transport electrification, which has reduced demand for road transportation fuels.
  
  As the Middle East crisis choked off supplies via the world’s most critical oil and gas chokepoint, the Strait of Hormuz, China is more resilient to the supply shock than other regions and countries, including Europe, India, Japan, South Korea, or Southeast Asia, analysts say.
  
  Inventory Buffer
  
  One might think that China, as the biggest crude oil importer, would feel the supply squeeze immediately and acutely.
  
  Yet, its supply buffer of an estimated 1.2-1.3 billion barrels of crude in strategic and commercial stockpiles could last up to four months, Rush Doshi, director of the China Strategy Initiative at the Council on Foreign Relations, told CNBC on Monday, when oil prices briefly hit $118 per barrel.
  
  “China has taken the last 20 years to reduce some of its dependence on maritime oil flows,” Doshi said.
  
  With pipelines and more renewable energy in the electricity mix, China depends on flows via the Strait of Hormuz for 40-50% of its seaborne crude oil imports, Doshi reckons.
  
  Moreover, China has been amassing crude in strategic and commercial reserves for nearly a year. This oil hoarding is paying off in the unpredictable and already highly disruptive war in the Middle East.
  
  China’s energy security strategy and plan to aggressively buy cheaper crude, including sanctioned barrels, is insulating the world’s second-largest economy, to some extent, from short-lived supply disruptions.
  
  Beijing is estimated to have been amassing crude into commercial and strategic inventories for nearly a year—taking advantage of lower international prices and even lower prices for sanctioned supply out of Iran, Venezuela, and Russia.
  
  Unlike the United States, China does not report inventories. Analysts are looking at overall supply (domestic production plus imports) and refinery processing rates to estimate how much crude is going into strategic or commercial reserves and how much is being processed into fuels.
  
  Analysts estimate that China’s total reserves stand at between 1.2 billion barrels and 1.3 billion barrels.
  
  “China currently holds an estimated 1.3 billion barrels of crude in onshore storage, equivalent to around four months of seaborne imports at the 2025 average rate,” Emma Li, Lead China Oil Market Analyst at Vortexa, wrote in an analysis on Monday.
  
  Crude Flow Diversification
  
  “China’s overall crude supply system demonstrates significant resilience to a temporary disruption at the Strait of Hormuz, supported by diversified suppliers, substantial onshore inventories, and stable pipeline inflows from Russia and domestic production,” Li said.
  
  In the weeks before the war, China had reduced exposure to Strait of Hormuz crude oil flows, mostly thanks to the surge in purchases of Russian crude that doesn’t travel through the chokepoint in the Middle East.
  
  The share of China’s seaborne imports transiting the Strait of Hormuz has dropped from 39% in 2025 to about 33% now, according to Vortexa data.
  
  That’s because Chinese imports of Russian seaborne crude have jumped from around 1.2 million barrels per day in 2025 to about 1.8 million bpd now.
  
  “Private Chinese refiners stepped up purchases as weaker demand from other Asian buyers created opportunities, reducing reliance on Hormuz-linked Iranian supplies,” Vortexa’s Li said.
  
  Despite being the top crude importer in the world, China is less exposed to the Hormuz crisis than many other buyers in Asia, including India and the developed economies of Japan and South Korea. India relies on the Middle East for about 60% of its crude supply, while Japan’s dependence is a massive 90%.
  
  China also continues to rely on Iranian and Russian crude, large volumes of which are already amassed in floating storage on tankers close to Chinese shores.
  
  The independent refiners in China have been and continue to be the top buyer of Iran’s crude, while China has also been opportunistically scooping up the Russian oil that India shunned for a few months under U.S. pressure, but is now back to buying, with U.S. blessing.
  
  Record volumes of nearly 40 million barrels of sanctioned Iranian, Russian, and Venezuelan crude are idling in floating storage on tankers near China. The crude volumes in floating storage, with more than three-quarters of the tankers laden with Iranian oil, have jumped by 17% compared to the week before the Middle East war started, according to Kpler data cited by Bloomberg on Monday.
  
  The proximity to China and the willingness of Chinese refiners, especially the private crude processors, to buy sanctioned crude could ease – to an extent – China’s short-term pain from spiking oil prices and halted Hormuz flows.
  
  Beijing’s vulnerability to the current supply shock varies widely across the refining sector, according to Vortexa.
  
  Refineries with heavy Hormuz-linked supply chains or with limited substitution options could be forced to accelerate maintenance schedules or reduce processing rates.
  
  “Overall, while China is unlikely to face an immediate nationwide refining disruption, a prolonged closure of the Strait of Hormuz would likely result in selective refinery run cuts, shifting crude trade flows, and tighter regional product balances across Asia,” Vortexa’s Li noted. Source: Oilprice.com
- 2026-03-11
  Oil rises as Iran war rages on; IEA releases record 400 million barrels of oil
  Oil prices moved higher on Wednesday, erasing earlier losses, as the conflict in Iran showed no signs of stopping. The largest ever emergency oil reserve release by the International Energy Agency (IEA) to combat spiking prices did little to lift spirits.... Read more Oil prices moved higher on Wednesday, erasing earlier losses, as the conflict in Iran showed no signs of stopping. The largest ever emergency oil reserve release by the International Energy Agency (IEA) to combat spiking prices did little to lift spirits.
  Brent oil futures for May rose 4.9% to $92.14 a barrel, while West Texas Intermediate crude futures added 4.8% to $87.42 a barrel by 12:52 ET (16:52 GMT).
  Get breaking oil market updates with InvestingPro
  The IEA said it would release a record 400 million barrels of oil from emergency reserves. The number was much larger than the 182 million barrels of oil released in 2022, during the onset of the Russia-Ukraine war.
  "The oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA Member countries have responded with an emergency collective action of unprecedented size,” IEA executive director Fatih Birol said in a statement.
  “Oil markets are global so the response to major disruptions needs to be global too. Energy security is the founding mandate of the IEA, and I am pleased that IEA Members are showing strong solidarity in taking decisive action together,” Birol added.
  The IEA release is aimed at countering increased disruptions in oil markets caused by the near complete closure of the Strait of Hormuz by Iran, a key shipping lane that facilitates about 20% of the world’s oil supply.
  
  A massive IEA release could help limit some supply disruptions stemming from the U.S.-Israel war with Iran. But an extended closure in the Strait of Hormuz stands to severely disrupt oil and gas supplies to several parts of Asia.
  "Good to see this coordinated move to release 400 million barrels of oil around the world. It will help. But it’s unlikely to cover the full loss of ~11 million to 16 million barrels of daily loss right now without the Strait of Hormuz operating," Heather Long, chief economist at Navy Federal, said on X.
  Reports showed Iran attacking ships passing through the strait this week, and that Tehran had also mined the channel. Iran has signaled that it will allow passage through the strait only after U.S. and Israeli attacks against the country are stopped. A CNN report on Wednesday said Iran claimed it was capable of launching high-speed underwater missiles.
  Reports earlier this week showed the Group of Seven countries were also planning oil reserve releases to help offset supply shortages. Additionally, the U.S. said it was temporarily lifting some sanctions on the sale of Russian oil to improve crude supplies.
  Markets parse conflicting signals on Iran war
  Oil prices rose to nearly $120 a barrel earlier this week, amid concerns over supply disruptions in the Middle East. But they swiftly trimmed these gains on reports of more reserve releases and other measures to help limit the supply impact, with crude prices remaining volatile.
  
  Investors were also grappling with conflicting signals on the Iran war. U.S. officials claimed in a now deleted social media post on Tuesday that the U.S. Navy had successfully escorted an oil tanker through the Strait of Hormuz.
  But the post was denied by the White House, with other reports indicating that the U.S. Navy was reluctant to escort any ships in the region, given the high risk involved.
  Oil prices had swung wildly on the post, sliding as low as $81 before rebounding after its deletion.
  Earlier in the week, President Donald Trump said the war was close to ending. But Iran rejected his comments, while hostilities with the Islamic Republic showed few clear signs of easing.
  Separately on Wednesday, U.S. consumer price growth remained relatively tame in February, although the outlook for inflation has darkened after the oil market ructions sparked by the start of the joint U.S.-Israeli assault on Iran. Source: Reuters/Investing.com
- 2026-03-11
  Idemitsu and Consort Bunkers eye green methanol bunkering in Asia
  Japan’s Idemitsu Kosan plans to partner with Singapore-headquartered bunker supplier Consort Bunkers to supply green methanol in Singapore and other major ports in East Asia. Idemitsu will procure bio- and e-methanol for marine fuel supply, while Consort... Read more Japan’s Idemitsu Kosan plans to partner with Singapore-headquartered bunker supplier Consort Bunkers to supply green methanol in Singapore and other major ports in East Asia.
  
  Idemitsu will procure bio- and e-methanol for marine fuel supply, while Consort Bunkers will carry out physical deliveries in Singapore and other major East Asian ports, according to ongoing discussions.
  
  Consort Bunkers currently supplies conventional fuels and biofuel blends across Singapore, the UAE and China, covering major ports such as Fujairah, Khor Fakkan, Jebel Ali, Sharjah, Zhoushan and Ningbo.
  
  The company has also ordered at least 20 IMO Type II bunkering vessels capable of handling methanol and pure biofuels (B100), according to its website. The first of these newbuilds was delivered in August 2024.
  
  Neither company has yet provided details on the timeline of this initiative or the source of the green methanol.
  
  But the ambition to develop a green methanol bunkering supply chain reflects growing interest among Asian fuel suppliers in methanol as a low-emission marine fuel.
  
  Recent bunkering operations underscore this trend.
  
  Over the past week, Chimbusco Pan Nation and Sinopec (Hong Kong) Petroleum each carried out bio-methanol bunkering operations, while SIPG Energy completed a separate delivery in China.
  
  “In the shipping industry, under the International Maritime Organization’s (IMO) goal of achieving net-zero greenhouse gas (GHG) emissions from international shipping by around 2050, the adoption of fuels with lower GHG emissions for ships as alternatives to heavy oil is gaining momentum,” Idemitsu explained.
  
  Among these options, methanol is seen as a “promising” fuel because it can be handled using much of the existing bunkering infrastructure, the company added. Source: ENGIИE

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