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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 041.00
0.00
920.00
-20.00
Jun 15
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 041.00	0.00	920.00	-20.00	Jun 15

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
629.64	-14.11	786.70	-8.50	1 147.73	-16.57	Jun 16

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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	510	592	-82	590	653	-63	920	1 080	-160	Jun 16
Singapore	530	620	-90	675	733	-58	968	1 073	-105	Jun 16
Fujairah	625	562	+63	1 225	669	+556	1 453	1 136	+317	Jun 16
Houston	575	606	-31	670	701	-31	980	1 046	-66	Jun 16

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Latest News
- 2026-06-16
  Oil dips below $80 for first time since March as details of U.S.-Iran deal awaited
  The global oil benchmark sank on Tuesday, briefly sliding below the $80 a barrel level for the first time since early March, as investors awaited further details on an interim U.S.-Iran peace agreement which is expected to reopen the Strait of Hormuz. At... Read more The global oil benchmark sank on Tuesday, briefly sliding below the $80 a barrel level for the first time since early March, as investors awaited further details on an interim U.S.-Iran peace agreement which is expected to reopen the Strait of Hormuz.
  
  At 08:23 ET (12:23 GMT), Brent crude futures had fallen 3.7% to $80.13 a barrel, after having temporarily dipped below $80, near prices last seen shortly after the start of the joint U.S.-Israeli assault on Iran in late February. U.S. West Texas Intermediate crude futures dropped 4.2% to $77.36 a barrel.
  
  Get premium commodity market insights with InvestingPro - now 55% off
  
  Both benchmarks tumbled nearly 5% on Monday after the U.S. and Iran announced a preliminary deal that would extend a ceasefire by another 60 days and unblock the Strait of Hormuz.
  
  The sharp selloff erased much of the geopolitical risk premium that had accumulated during the Gulf conflict, with Brent and WTI settling at their lowest levels since March. Markets are now focused on the timing of the agreement’s implementation and how quickly oil exports can return to normal levels.
  
  Trump has suggested that the Strait of Hormuz will be fully reopened by Friday, when representatives from Washington and Tehran are set to meet in Switzerland for a formal signing of the framework deal.
  
  Analysts said uncertainty remains despite the broadly positive market reaction. While the deal has raised hopes that disrupted energy flows will resume, questions linger over maritime security, insurance costs, and the pace at which stranded vessels can return to service.
  
  "Reopening Hormuz would increase flows, help arrest the inventory drawdown, and allow oil markets to begin rebuilding depleted inventories," analysts at BCA Research said in a note. However, they flagged that "a meaningful further drop in prices" is not expected, "as geopolitical risk remains, inventories have been significantly depleted, and countries may start building larger strategic stockpiles to improve energy security."
  
  Several institutions have cautioned that restoring inventories and normalizing shipping routes could take weeks or even months.
  
  Oil cartel OPEC last week lowered its forecast for global oil demand growth in 2026 for a second consecutive month, citing weaker consumption prospects. The producer group now expects demand to grow by about 970,000 barrels per day next year, down from a previous forecast of 1.17 million bpd.
  
  Inventories have been drawn down significantly during the Strait’s closure, and any setbacks in negotiations or delays in reopening could reignite supply concerns and volatility across energy markets. Source: Investing.com
- 2026-06-16
  Molgas completes first LNG bunkering operation at the Port of Palermo
  Molgas Energy Group has announced that it has completed the first LNG bunkering operation at the Port of Palermo, on the island of Sicily, Italy. In a statement released on LinkedIn today (16 June), Molgas has said three trucks were used to make the... Read more
- 2026-06-16
  Catfines and sediment issues driving increase in 2026 bunker alerts, says VPS’ Bee
  Since the start of the Middle East conflict in late February, fuel testing specialist VPS has issued 20 alerts on marine fuel quality, with catfines and sediment-related issues seen as the main causes, says VPS Group Marketing & Strategic Projects Director,... Read more
- 2026-06-16
  CPN bunker barge becomes first vessel listed on new MFM scheme in Hong Kong
  Chimbusco Pan Nation (CPN) has announced that its bunker barge, Zhong Ran 23, has become the first vessel in Hong Kong listed on the Marine Department’s (MD) official List of Quality Bunker Vessels under the Quality Bunker Operator Scheme. Launched... Read more
- 2026-06-16
  Bunker Holding reports ‘strong’ 2025/2026 performance with a $424 million gross profit
  Bunker Holding has today announced that it made a gross profit of $424 million and a profit before tax of $73 million for the financial year 2025/2026. In a statement sent to ship.energy this morning, Bunker Holding said that these results ‘exceeded... Read more
- 2026-06-16
  SunGas Renewables to cease development of Beaver Lake Biofuels project citing slow adoption of low-carbon marine fuels
  SunGas Renewables has announced that it will cease further development on the Beaver Lake Biofuels project, citing a combination of factors including slower-than-expected market adoption of low-carbon marine fuels. The Beaver Lake Biofuels project... Read more
- 2026-06-16
  Oil rebounds on concerns about US-Iran peace deal, restoration of supply
  Oil prices rebounded on Tuesday on concerns about the lack of details in a preliminary agreement ending the war between the U.S. and Iran and the realization the resumption of supply through the key Strait of Hormuz may take longer than thought. Brent... Read more Oil prices rebounded on Tuesday on concerns about the lack of details in a preliminary agreement ending the war between the U.S. and Iran and the realization the resumption of supply through the key Strait of Hormuz may take longer than thought.
  
  Brent crude futures gained 26 cents, or 0.3%, to $83.42 a barrel and U.S. West Texas Intermediate rose to $81.12 a barrel, up 46 cents, or 0.3%, as of 0108 GMT.
  
  On Monday, oil prices fell by nearly 5% to their lowest close since March 4 after U.S. President Donald Trump said a memorandum of understanding was signed to end the U.S.-Israeli war with Iran, which had closed the Strait of Hormuz that typically carried one-fifth of the world’s oil supply before the conflict and caused about 14 million barrels per day of output to be shut in.
  
  Despite the optimism following the announcement, the full details of the memorandum have not been released publicly and a permanent truce has not been worked out.
  
  Early indications are the agreement would reopen the blockaded Strait of Hormuz and extend a ceasefire for 60 days, allowing negotiators to tackle difficult issues like the future of Iran’s nuclear program.
  
  On Monday, Iranian President Masoud Pezeshkian said the U.S.-Iran memorandum of understanding was an "important step" toward stopping the fighting but a final agreement for a lasting truce "has yet to take shape."
  
  "The devil may be in the details, and until those details emerge, the market is likely to show restraint regarding the further unwinding of the risk premium in energy markets," said Tim Waterer, chief market analyst at KCM Trade.
  
  A senior Iranian official said on Monday pending a final agreement Iran would freeze its nuclear activity, refraining from further uranium enrichment or the expansion of nuclear facilities.
  
  Even with the current agreement, it remains unclear how quickly the curtailed supply will be able to return to the market.
  
  "The path back to normal supply flows remains far from straightforward," said Tony Sycamore, market analyst at IG.
  
  "Clearing mines, restoring full marine insurance coverage, and getting vessels and operators comfortable enough to return to the Gulf will all take time as will bringing shuttered wells and damaged regional infrastructure back online," Sycamore added. Source: Reuters/Investing.com
- 2026-06-16
  Venezuela’s Oil Exports Hit Seven-Year High as Global Buyers Return
  Venezuela’s oil production and exports are set to increase in the coming months as the United States further eases the rules of operating in the world’s biggest crude resource holder after taking control over the industry following the capture of Nicolas... Read more Venezuela’s oil production and exports are set to increase in the coming months as the United States further eases the rules of operating in the world’s biggest crude resource holder after taking control over the industry following the capture of Nicolas Maduro.
  
  The rise of Venezuela’s oil supply is good news for South America’s oil producers and sellers, which have stepped up shipments so far this year amid the disruption in the Middle East. It’s also good news for the U.S., whose refineries are taking increased volumes of Venezuelan crude.
  
  The Venezuelan rebound and the increase in South America’s crude supply from Brazil and Guyana are also good news for crude buyers in Asia and Europe, who are diversifying sources of oil as the Strait of Hormuz may have turned into a permanent risk to oil supply.
  
  In yet another step toward more oil from Venezuela, the U.S. last week eased several key general licenses for operations in Venezuela, allowing additional activity, although it did not remove sanctions fully. The new U.S. Treasury guidance eases certain commercial constraints in key sectors, including oil, gas, and minerals extraction.
  
  At the same time, the world’s biggest oilfield services provider, SLB, signed a long-term framework agreement with Venezuela’s state oil firm PDVSA to support the revitalization and modernization of Venezuela’s oil and gas sector. The memorandum of understanding (MoU) establishes a basis for cooperation across exploration, field development, production, digital enablement, and workforce training and development, SLB said.
  
  “This MoU builds on that continuity and sets out a path with PDVSA to strengthen operational excellence and develop the skills that will sustain performance for years to come,” SLB’s chief executive officer, Olivier Le Peuch, said.
  
  The return of international firms to Venezuela lays the foundations for a rebound in the country’s oil supply, although it’s still a third of the peak levels of 3 million barrels per day (bpd) from more than a decade ago.
  
  Venezuela is back on international markets with its oil sales under U.S. control and being marketed by top commodity trading houses Vitol and Trafigura. Venezuela’s oil exports hit a fresh seven-year high in May as shipments to the United States and India surged.
  
  Venezuela has been steadily increasing its oil exports since the U.S. took control over its oil sales following the capture of Maduro early this year. The U.S. has eased sanctions on Venezuela’s oil industry and PDVSA, allowed Western firms to return to Venezuelan operations, and has encouraged American companies to sign production and export deals.
  
  Venezuela exported an estimated 1.25 million barrels per day (bpd) of oil in May, up by 0.7% compared to April’s 1.23 million bpd exports and a massive 61% jump compared to May 2025.
  
  The U.S. and India have become major buyers of Venezuela’s oil after the sanctions were dropped, and the top international oil traders Vitol and Trafigura were tasked to sell most of the crude to buyers.
  
  The United States remained the top buyer of Venezuela’s crude, taking in about 558,000 bpd in May, followed by India with 427,000 bpd and Europe with 169,000 bpd. Shipments to all three regions rose in May from April levels.
  
  “Venezuela’s crude output recovery is no longer speculative,” Kpler’s Naveen Das wrote in an analysis last month.
  
  Venezuelan output is aggressively recovering, targeting nearly 600,000 bpd growth on the year to 1.3 million bpd in 2026.
  
  The issuance of new operating licenses is set to further boost Venezuela’s output toward 1.5 million bpd by 2027, according to Kpler.
  
  U.S. refiners are set to benefit from the rebound, as they are well-positioned to take additional volumes of Venezuelan crude.
  
  Refineries in the United States can still absorb additional volumes of Venezuelan crude, U.S. Energy Secretary Chris Wright said last week.
  
  “You don't just flip on a switch, but you'll see more and more Venezuelan crude demanded by U.S. refineries,” Wright noted. Source: Oilprice.com
- 2026-06-16
  From Hormuz to Houston: The U.S. Takeover of Global Energy Flows Ramps Up
  Oil exports from the U.S. and its ‘Americas’ sphere of influence continue to be the prime beneficiary from the drop in crude output leaving the Middle East. Industry figures showed dirty tanker shipments from the Americas hit an all-time high of 14.5... Read more Oil exports from the U.S. and its ‘Americas’ sphere of influence continue to be the prime beneficiary from the drop in crude output leaving the Middle East. Industry figures showed dirty tanker shipments from the Americas hit an all-time high of 14.5 million barrels per day (bpd) in May, up from 13.8 million bpd in April, and a 40% increase from May 2025. Meanwhile, transits through the key Strait of Hormuz global oil route dropped 89% from February to May, with total ship movements dropping from over 3,700 to around 400. “The pattern is likely to continue even when the Strait [of Hormuz] opens up again, as it’ll take months for Middle East volumes to recover to their former levels [before the U.S./Israel-Iran conflict], and some key sites will take several years to do so,” a senior source who works closely with the European Union’s (E.U.) energy security complex exclusively told OilPrice.com last week. “Meanwhile, the U.S. has ramped up its own [oil] production to record levels and is helping countries in the Americas -- Venezuela, Argentina, and Brazil, mainly -- to do the same,” he added. “It marks a long-term shift in the centre of the world’s global oil and gas gravity,” he underlined.
  
  This is precisely what U.S. President Donald Trump wanted to do from his first day in his first term as president, given his extreme dislike of OPEC’s use of its cartel powers over the years against the core interests of Washington and its allies, as analysed in full in my latest book on the new global oil market order. This was first notably seen in the 1973 Oil Crisis in which Saudi Arabia rallied fellow OPEC members into imposing an oil embargo on the U.S. and its allies following their support for Israel in the Yom Kippur War. By the end of the embargo in March 1974, the price of oil had risen from around US$3 per barrel to nearly US$11 per barrel, which stoked the fire of a global economic slowdown, especially felt in the West. Then-Saudi Minister of Oil and Mineral Reserves, Sheikh Ahmed Zaki Yamani, highlighted that this marked a fundamental shift in the world balance of power between the developing nations that produced oil and the developed industrial nations that consumed it. However, with the rise of U.S. shale oil production from around 2010, and OPEC’s attempt to destroy the nascent sector through an Oil Price War from 2014-2016 failing catastrophically, Trump has wanted to critically undermine the cartel’s ability to damage U.S. and allied interests ever since. Indeed, in the subsequent 2020 Oil Price War involving OPEC and started by Saudi Arabia for the same reason as in 2014, Trump expedited progress of the ‘No Oil Producing and Exporting Cartels Act’ (NOPEC), which would open the way for sovereign governments to be sued for predatory pricing and failure to comply with the U.S.’s antitrust laws. It could also break up Saudi Arabian oil supergiant Aramco -- the mainstay of the Kingdom’s existing economic and political systems -- into constituent
  
  Instead, as delineated in the U.S.’s ‘2025 National Security Strategy’, Trump wants the world’s geopolitical system split into three geographical spheres, dominated by a major power in each. China would hold the primary role in Asia, while Russia would either dominate or significantly influence Europe, depending on how any future conflict between European NATO members and Moscow unfolds. But, at the top, the U.S. would maintain overall dominance and exert direct influence across the Americas (North and South America). Naturally, as energy underpins the economies -- and thus politics -- of every country in the world, shifting the centre of dominance in global energy supplies to the Americas is a core part of that aim. The U.S. is playing its part toward that, pumping oil at record highs, around a baseline of 13.6 million bpd, with plans for more down the line. Of the other major oil-producing countries in the Americas, Venezuela is top of Washington’s development agenda, followed by Argentina and then Brazil.
  
  Following the landmark removal from power of Nicolás Maduro on 3 January by the U.S., Secretary of State Marco Rubio outlined a three-phase plan for the South American oil giant that involved stabilising the country and averting economic collapse, recovering the economy and oil sector, and encouraging an eventual political transition. These efforts have already seen a positive trajectory in oil production, with Venezuelan state oil company Petróleos de Venezuela, S.A. (PDVSA) and its foreign partners averaging 1.155 million bpd of crude production in May, compared to 1.130 million bpd in April and 940,0000 b/d in January. In April, executive vice president Jovanny Martinez, said that the country expects to produce 1.37 million bpd by the end of 2026. There is plenty of scope to do so, as Venezuela still holds the world’s largest proven crude reserves -- roughly 303 billion barrels, or about 17% of the global total -- and of its 14 supergiant oil fields, 11 retain more than half of their original reserves. Most of this is extra-heavy crude oil from the Orinoco Belt that requires more technical expertise to handle than lighter grades but is cheaper to lift and often more profitable to process. With those bottlenecks being addressed, it could again produce millions of barrels per day of cheap-to-lift crude, even if downstream handling remained costly. In fact, as recently as 2008, Venezuela was producing around 3 million bpd of crude oil.
  
  One level down in Trump’s list of energy development priorities is Argentina, with Washington having provided a US$20 billion lifeline to the country in October 2025. This was explicitly intended to support President Javier Milei’s pro-market reforms and stabilise the economy for foreign investment. The ‘Reciprocal Trade and Investment Agreement’, which fast-tracks U.S. investment in strategic sectors, including energy and critical minerals, was then signed on 4 February this year. Against this backdrop, several U.S. companies are increasing their oil and gas investment there, particularly in the Vaca Muerta shale formation, which is now being referred to as another Permian Basin due to its scale. Continental Resources recently purchased non-operating interests in four blocks in the Vaca Muerta basin to accelerate expansion, while Chevron is leaning toward making Vaca Muerta a core asset in its global portfolio. Meanwhile, Baker Hughes secured a major order in early 2026 to supply gas compression units for the San Matias Pipeline, supporting gas transport from Vaca Muerta. Overall, Argentina is on track to reach 1 million bpd of oil this year, up 26% from 2025.
  
  That said, Brazil is now producing a record-breaking 4 million bpd and over of crude oil, and including natural gas, total hydrocarbon output has hit a new record of 5.3 million barrels of oil equivalent per day (boe/d). Industry forecasts are that it may well become one of the world’s top five oil producers by 2030, supported by extensive investment plans from Petrobras and foreign oil companies. These include supermajors from the U.S., focusing now on high-impact exploration and deepwater production rather than the maturing fields. Last October, for example, ExxonMobil achieved its first-ever upstream production in Brazil at the Bacalhau field, which has a capacity of 220,000 bpd. Chevron was awarded new offshore blocks alongside Petrobras and ExxonMobil last June, and Baker Hughes and Halliburton supply equipment and engineering for Petrobras’s US$109 billion five-year investment plan. Washington is cognisant not just of Brazil’s further massive oil and gas potential but also of its geopolitical importance as one of the original ‘BRIC’ (Brazil, Russia, India, China) emerging-market powerhouses, and its geographical position in the U.S.’s ‘backyard’.
  
  With China weakened economically from where it was before Covid, and Russia near economic and military collapse as the war in Ukraine drags into its fifth year, Washington may never have a better opportunity to put Trump’s new world order into place. The Americas hemisphere already accounts for 32% of global crude production and is growing every year, with new supply from the U.S. Permian Basin, offshore Guyana, Argentine shale, and increased flows from Brazil and Venezuela. U.S. Assistant Secretary of State for Economic, Energy, and Business Affairs, Caleb Orr, highlighted recently that Ecuador and El Salvador are also among the governments Washington works with “hand in glove” on security. He added that security is the “table stakes” for any productive economic relationship and the foundation of the broad-based change in the Americas. The sentiments have been underlined by National Energy Dominance Council executive director Jarrod Agen, who recently said: “The Western Hemisphere is now the leading driver of energy in the world; we are the centre of the energy world from Alaska down to Venezuela, and what we want is the crude product coming out of Alaska, coming out of Venezuela, coming into U.S. refineries, getting refined, and then exporting to the world.” Source: Oilprice.com
- 2026-06-16
  MABUX: Firm downward movement to continue in Global bunker market on Jun. 16 as U.S. and Iran reach peace deal to reopen Strait
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — recorded a sharp decline on Jun. 15, extending losses for a second consecutive trading session: 380 HSFO: USD/MT: 643.75 (-25.96) VLSFO: USD/MT... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — recorded a sharp decline on Jun. 15, extending losses for a second consecutive trading session:
  
  380 HSFO: USD/MT: 643.75 (-25.96)
  VLSFO: USD/MT 795.20 (-25.73)
  MGO: USD/MT 1 164.30 (-39.20)
  
  Bunker prices continue to retreat amid growing confidence that a U.S.-Iran peace agreement could lead to the reopening of the Strait of Hormuz, significantly reducing geopolitical risk premiums across the energy complex. However, physical market fundamentals remain mixed. Fujairah continues to exhibit the strongest signs of structural tightness among major bunkering hubs, with elevated physical premiums showing little indication of normalization, highlighting persistent prompt supply constraints in the region.
  
  As of Jun. 15, the MABUX Market Differential Index (MDI), which measures the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP) — registered the following dynamics across the four major global bunkering hubs: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Rotterdam, Singapore, and Houston remained undervalued relative to the MABUX benchmark. The degree of undervaluation narrowed by $4 in Rotterdam but widened by $6 in Singapore and $18 in Houston. Fujairah remained the sole overvalued port in the HSFO segment, with its premium increasing by a further $5. Singapore's MDI moved closer to the $100 threshold.
  
  • VLSFO segment: The undervaluation trend continued in Rotterdam, Singapore, and Houston. The discount increased by $18 in Rotterdam, $12 in Singapore, and $7 in Houston. Fujairah was the only overvalued hub, with its premium increasing by $16 and remaining well above the $100 threshold.
  
  • MGO LS segment: Fujairah also remained the only overvalued port in the MGO LS segment, with its premium increasing by $49. Rotterdam, Singapore, and Houston continued to trade below their respective digital benchmarks. The degree of undervaluation narrowed by $4 in Rotterdam, $14 in Singapore, and $3 in Houston.
  
  MABUX expects the global bunker market to remain under firm downward pressure on Jun. 16 following confirmation of a U.S.-Iran peace agreement and the anticipated reopening of the Strait of Hormuz: minus 5-20 USD/MT, VLSFO: minus 5–20 USD/MT, MGO LS: minus 10–30 USD/MT.
  Source: MABUX

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