Mabux: Global Bunker Prices

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MARKET BUNKER PRICES (MBP)
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- Differentials section: VLSFO/380 HSFO, VLSFO/MGO LS, MGO LS/VLSFO
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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
716.50
+9.00
714.00
-1.00
Feb 24
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	716.50	+9.00	714.00	-1.00	Feb 24

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
451.21	-1.43	547.80	-0.54	814.81	-0.38	Feb 26

Click to see Regional Bunker Indexes

MABUX Market Differential Index (MDI)

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

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	Date
Rotterdam	422	453	-31	476	504	-28	714	746	-32	Feb 26
Singapore	432	450	-18	510	546	-36	702	739	-37	Feb 26
Fujairah	415	414	+1	509	536	-27	770	802	-32	Feb 26
Houston	383	422	-39	491	482	+9	709	770	-61	Feb 26

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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
- API for integration with your application, custom solutions available upon demand
- Bunker market analyses upon request for required region or port
- Bunker Price seminars that allow to learn how to use MABUX tools for bunker business
- MABUX Open Bunker Directory features contact details of bunker suppliers, traders and brokers worldwide.
Latest News
- 2026-02-26
  Oil prices retreat as U.S.-Iran nuclear talks go ahead
  Oil prices retreated Thursday, handing back some of the recent gains after a sharp rise in U.S. stockpiles as more U.S.-Iran nuclear talks proceed. At 07:55 ET (12:55 GMT), Brent Oil Futures expiring in April fell 1.4% to $69.73 per barrel and West Texas... Read more Oil prices retreated Thursday, handing back some of the recent gains after a sharp rise in U.S. stockpiles as more U.S.-Iran nuclear talks proceed.
  At 07:55 ET (12:55 GMT), Brent Oil Futures expiring in April fell 1.4% to $69.73 per barrel and West Texas Intermediate (WTI) crude futures slipped 1.9% to $64.17 per barrel.
  Both contracts rose to their highest levels since late July 31 earlier in the week.
  Get exclusive commodity market insights with InvestingPro subscription
  U.S.-Iran nuclear talks get under way
  U.S. special envoy Steve Witkoff and Jared Kushner are meeting Iranian officials in Geneva, as Washington pushes to reach an agreement over Tehran’s nuclear and ballistic missile programmes.
  Iranian Foreign Minister Abbas Araqchi has signalled that a diplomatic resolution remains within reach if both sides commit to constructive engagement.
  Additionally, Ali Shamkhani, a prominent adviser to Iran’s supreme leader, has suggested that an agreement can be reached if the negotiations focused solely on Iran’s commitment not to develop nuclear weapons.
  “If the main issue of the negotiations is preventing Iran from producing nuclear weapons, this would be in line with the supreme leader’s fatwa (religious edict) and Iran’s defence doctrine, and an immediate agreement is within reach,” he posted on X.
  President Donald Trump has said that “bad things” could happen if meaningful progress is not achieved.
  "A constructive resolution would likely prompt the market to gradually unwind as much as a $10/bbl risk premium, which we believe is currently priced in," ING analysts said in a note.
  
  "If talks break down, the upside risk remains, but the market may hold off on a full reaction until the scale of potential US action against Iran becomes clearer," they wrote.
  As one of the larger producers within OPEC, Iranian crude contributes materially to global supply, and any disruption -- particularly around the Strait of Hormuz, through which a substantial share of world oil trade transits -- would push oil higher.
  "If we are to see deescalation between the U.S. and Iran, it should allow weaker fundamentals to feed through to a lower flat price -- particularly if OPEC+ resumes supply increases from April, which we believe they will agree to this weekend," ING analysts added.
  U.S. crude stockpiles surge above expectations - EIA
  On the supply side, the U.S. Energy Information Administration (EIA) weekly data revealed an unexpected and large build in crude inventories.
  Commercial crude stocks jumped by 16 million barrels in the week ended Feb. 20, far exceeding market expectations and marking the largest weekly increase in roughly three years.
  At the same time, gasoline inventories fell by about 1 million barrels, while distillate stocks rose modestly by roughly 250,000 barrels. Refinery runs declined, adding to the headline inventory build. Source: Investing.com
- 2026-02-26
  Two new ECAs set to come into effect from next week
  The Canadian Arctic and the Norwegian Sea are set to become new emission control areas (ECAs) from 1 March 2026. The move follows amendments to MARPOL Annex VI adopted by the IMO’s Marine Environment Protection Committee (MEPC 84) in October 2024. While... Read more The Canadian Arctic and the Norwegian Sea are set to become new emission control areas (ECAs) from 1 March 2026.
  
  The move follows amendments to MARPOL Annex VI adopted by the IMO’s Marine Environment Protection Committee (MEPC 84) in October 2024.
  
  While the ECAs will formally enter into force from next week, the main operational requirement for ships to use fuel with a sulphur cap of 0.1% will apply from 1 March 2027.
  
  The 12-month grace period is intended “to allow for logistical adjustments in fuel supply,” according to an advisory from classification society Bureau Veritas.
  
  The Canadian Arctic ECA will extend the existing North American ECA to include all of Canada’s Arctic waters. The Norwegian Sea ECA will extend the existing North Sea ECA, covering Norwegian waters up to the Russian border.
  
  The amendments also introduce nitrogen oxides (NOx) Tier III standards for certain new ships operating in the ECAs. Under these rules, marine diesel engines with a power output above 130 kilowatts must meet Tier III emission limits.
  
  In the Canadian Arctic ECA, the NOx Tier III requirements will apply to vessels constructed on or after 1 January 2025. In the Norwegian Sea ECA, NOx Tier III rules will apply to ships depending on their contract and construction timelines, with the requirements extending to ships delivered on or after 1 March 2030. Source: ENGIИE
- 2026-02-26
  New marine coating set to ‘unlock up to 10% fuel savings’
  GIT Coatings says that its newly-launched next-generation graphene-base hard foul-release marine coating XGIT-FORCE™ is ‘engineered to unlock up to 10% fuel savings and provide the highest return on investment of any antifouling coating on the market’. In... Read more
- 2026-02-26
  ABS opens global cruise hub in Florida
  Classification society ABS has announced the opening of its ABS Cruise Center of Excellence in Fort Lauderdale, Florida. The new hub brings together local experts specialising in classification, risk consulting, and sustainability, while serving as... Read more
- 2026-02-26
  Port of Rotterdam says 2030 CO2 emissions reduction target may not be achievable
  In its 2025 cargo throughput review, published this week, the Port of Rotterdam says that ‘it is becoming increasingly unlikely’ that its ambition for a 55% reduction in CO₂ emissions by 2030 will be realised in the port and industrial complex, reflecting... Read more
- 2026-02-26
  AD Ports and Nimex break ground on Khalifa Port LPG terminal
  AD Ports Group and Nimex Terminals marked the groundbreaking this week of the UAE’s first private sector LPG terminal hub at Khalifa Port. The plans for the LPG terminal were announced in November 2025 in parallel with the LNG terminal hub development... Read more
- 2026-02-26
  Carbon Direct and C2X join forces on US forestry residue-to-biofuel project
  The Beaver Lake project will use an oversupply of forestry residue in Louisiana, resulting from a downturn in the US pulp and paper industry, to produce bio-methanol for use in hard to abate sectors such as shipping and aviation. Beaver Lake is repurposing... Read more
- 2026-02-26
  Ammonia is the most feasible alt.fuel option for deep-sea vessel applications, finds new report
  A newly-published study on alternative marine fuels has concluded that: ‘Ammonia is the most feasible fuel option for deep-sea vessel applications capable of meeting the IMO’s 2050 emission targets.’ The study added that: ‘Hydrogen was found to be... Read more
- 2026-02-26
  MABUX: Bunker Weekly Outlook, Week 09, 2026.
  At the close of Week 09, global bunker indices under the MABUX assessment continued their upward trajectory. The 380 HSFO index rose by USD 17.98, increasing from USD 434.70/MT last week to USD 452.68/MT, surpassing the USD 450.00 threshold. The VLSFO... Read more At the close of Week 09, global bunker indices under the MABUX assessment continued their upward trajectory. The 380 HSFO index rose by USD 17.98, increasing from USD 434.70/MT last week to USD 452.68/MT, surpassing the USD 450.00 threshold. The VLSFO index gained USD 25.77, climbing to USD 548.39/MT compared to USD 522.62/MT a week earlier. The MGO LS index posted the most significant increase, advancing by USD 34.53 from USD 779.43/MT last week to USD 813.96/MT, thereby exceeding the USD 800.00 mark. At the time of writing, the global bunker market maintains upside potential, supported by prevailing bullish sentiment and continued strength across the fuel complex.
  
  The MABUX Global Scrubber Spread (SS) — the price differential between 380 HSFO and VLSFO — demonstrated firm growth over the week, rising by $7.79 from $87.92 to $95.71, approaching the psychological $100.00 breakeven threshold. The average weekly value of the index also increased by $4.10. In Rotterdam, the SS Spread edged up by $2.00, reaching $52.00 compared to $50.00 the previous week, thereby exceeding the $50.00 level. The port’s average weekly SS Spread rose by $4.33. Singapore recorded the most pronounced weekly increase, with the 380 HSFO/VLSFO differential surging by $33.00 — from $41.00 to $74.00. The average weekly SS Spread in Singapore expanded by $15.17. By the end of the week, a stable upward trend in the SS Spread had formed across the global bunker market. Nevertheless, index values remain below the $100.00 mark, preserving the relatively stronger economic attractiveness of VLSFO compared to the 380 HSFO + scrubber combination.We expect the upward momentum in the SS Spread to persist into the coming week. More detailed information is available in the “Differentials” section at mabux.com.
  
  By the end of the week, the Istanbul ECA Spread (ES) increased by $15.00, rising from $85.00 last week to the psychological threshold of $100.00. The weekly average also advanced by $13.34. In Venice, the ECA Spread gained $5.00, moving from $87.00 to $92.00. However, the port’s weekly average edged down slightly by $0.33. The ES indices in both ports are showing gradual recovery, supporting renewed demand for conventional ULSFO. We expect the ECA Spread to retain further upside potential in the coming week. More detailed information is available in the “Differentials” section at mabux.com.
  
  EU gas markets in early 2026 are characterized by significantly reduced Russian exposure, increased reliance on LNG imports, structurally moderated demand, and relative price stabilization. Nevertheless, the market remains vulnerable to weather variability and geopolitical uncertainties. EU underground gas storage is expected to recover steadily through the summer 2026 injection season, provided demand remains contained and LNG inflows stay robust, thereby supporting supply adequacy ahead of the 2026–27 winter. However, inventories started the year at comparatively lower levels than in previous seasons, leaving the system more sensitive to adverse weather conditions and potential supply disruptions before the refill cycle is fully completed.
  
  As of February 24, natural gas inventories in European underground storage facilities continued to decline, reaching 30.59% of total capacity — a further decrease of 2.43 percentage points compared to the previous week. Storage levels are now 30.87 percentage points below the level recorded on January 1, 2026 (61.46%). In Germany, storage fell to 20.67%, while in the Netherlands it declined to 11.39%, underscoring the ongoing tightening of supply conditions across key European markets. At the close of Week 09, the European gas benchmark TTF posted a modest increase of 1.069 euros/MWh, rising to 30.891 euros/MWh from 29.822 euros/MWh the previous week, once again surpassing the 30.000 euros/MWh threshold.
  
  The price of LNG as bunker fuel at the port of Sines (Portugal) increased by USD 22.00 this week, rising to USD 775/MT from USD 753/MT last week. The price differential between LNG and conventional fuel shifted in favor of LNG, reaching USD 15, as MGO LS was quoted at USD 790/MT on February 23 at the port of Sines. More detailed information is available in the “LNG Bunkering” section of mabux.com.
  
  At the close of Week 09, the MABUX Market Differential Index (MDI) — reflecting the ratio of Market Bunker Prices (MBP) to the MABUX Digital Bunker Benchmark (DBP) — indicated the following trends across the world’s major hubs: Rotterdam, Singapore, Fujairah and Houston:
  
  • 380 HSFO segment: Singapore returned to the undervalued zone, joining Rotterdam and Houston. The average weekly undervaluation narrowed by 3 points in Rotterdam and by 11 points in Houston, while in Singapore it widened by 7 points. Fujairah remained the only overvalued port in this segment, although its average MDI decreased by 2 points. Singapore’s MDI remains close to the 100% correlation level between MBP and DBP.
  
  • VLSFO segment: All four ports were assessed as undervalued. The MDI continued to decline: by 5 points in Rotterdam, 7 points in Singapore, 12 points in Fujairah, and 3 points in Houston. Houston’s MDI remains near the 100% MBP/DBP correlation threshold.
  
  • MGO LS segment: All ports were also in the undervalued zone. At the same time, the MDI increased by 17 points in Rotterdam, 11 points in Singapore, 15 points in Fujairah, and 21 points in Houston.
  
  By the end of the week, the balance between undervalued and overvalued ports shifted further toward undervaluation, with Singapore re-entering this zone in the 380 HSFO segment. Other bunker fuel segments also recorded a renewed expansion of undervaluation levels. We expect the prevailing trend toward undervaluation to remain dominant in the global bunker market in the week ahead.
  More detailed information on the correlation between market prices and the MABUX Digital Bunker Benchmark is available in the “Digital Bunker Prices” section at mabux.com.
  
  According to the International Energy Agency (IEA), global sustainable fuel supply and demand could increase fourfold by 2035, provided that announced policy measures are fully implemented. Under an accelerated scenario—assuming the effective deployment of incentivising frameworks—the IEA projects that sustainable fuel supply, which remained below 7 exajoules (EJ) in 2024, could double by 2030 and subsequently expand to more than 27 EJ by 2035. The most pronounced growth is expected in ammonia and biogases, reflecting their scalability and increasing policy support across key markets. On the demand side, the transport sector is projected to remain the primary growth driver. Consumption of sustainable fuels in transport is forecast to triple, rising from 5 EJ in 2024 to nearly 15 EJ by 2035. In hard-to-electrify segments, particularly shipping and aviation, sustainable fuels are anticipated to account for a significant share of total fuel consumption by 2035, underscoring their strategic role in decarbonisation pathways for these sectors.
  
  The global bunker market is currently in the process of forming an upward trend. We expect the positive momentum in bunker indices to persist next week, although the pace of growth may moderate.
  Source: MABUX
- 2026-02-26
  Oil prices steady ahead of US-Iran nuclear talks; EIA data shows hefty stock build
  Oil prices were largely steady in Asian trading on Thursday as markets braced for the third round of U.S.-Iran nuclear talks later in the day, a pivotal event for the near-term trajectory. As of 22:42 ET (03:42 GMT), Brent Oil Futures expiring in April... Read more Oil prices were largely steady in Asian trading on Thursday as markets braced for the third round of U.S.-Iran nuclear talks later in the day, a pivotal event for the near-term trajectory.
  As of 22:42 ET (03:42 GMT), Brent Oil Futures expiring in April edged up 0.3% to $71.03 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.2% to $65.55 per barrel.
  Get exclusive commodity market insights with InvestingPro subscription
  US-Iran nuclear talks loom
  U.S. special envoy Steve Witkoff and Jared Kushner are scheduled to meet Iranian officials in Geneva later on Thursday, as Washington pushes to reach an agreement over Tehran’s nuclear and ballistic missile programmes.
  Iranian Foreign Minister Abbas Araqchi has signalled that a diplomatic resolution remains within reach if both sides commit to constructive engagement.
  President Donald Trump has said that “bad things” could happen if meaningful progress is not achieved.
  "A constructive resolution would likely prompt the market to gradually unwind as much as a $10/bbl risk premium, which we believe is currently priced in," ING analysts said in a note.
  "If talks break down, the upside risk remains, but the market may hold off on a full reaction until the scale of potential US action against Iran becomes clearer," they wrote.
  As one of the larger producers within OPEC, Iranian crude contributes materially to global supply, and any disruption -- particularly around the Strait of Hormuz, through which a substantial share of world oil trade transits -- would push oil higher.
  
  " If we are to see de-escalation between the US and Iran, it should allow weaker fundamentals to feed through to a lower flat price -- particularly if OPEC+ resumes supply increases from April, which we believe they will agree to this weekend," ING analysts added.
  US crude stockpiles surge above expectations - EIA
  On the supply side, the U.S. Energy Information Administration (EIA) weekly data revealed an unexpected and large build in crude inventories.
  Commercial crude stocks jumped by 16 million barrels in the week ended Feb. 20, far exceeding market expectations and marking the largest weekly increase in roughly three years.
  At the same time, gasoline inventories fell by about 1 million barrels, while distillate stocks rose modestly by roughly 250,000 barrels. Refinery runs declined, adding to the headline inventory build.
  Source: Investing.com

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