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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
863.00
-27.00
880.00
+5.00
Jun 29
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	863.00	-27.00	880.00	+5.00	Jun 29

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
550.04	-1.36	713.01	+2.08	1 075.21	+2.45	Jun 30

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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	457	532	-75	597	582	+15	880	1 056	-176	Jun 30
Singapore	455	558	-103	710	655	+55	898	1 049	-151	Jun 30
Fujairah	507	495	+12	870	553	+317	1 300	1 112	+188	Jun 30
Houston	473	541	-68	583	621	-38	916	1 067	-151	Jun 30

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Latest News
- 2026-06-30
  As EU ETS regulations tighten, EUAs could add up to 33% to bulkers’ fuel costs, finds new research paper
  In a newly published paper comparing the impacts of the International Maritime Organization’s (IMO) Carbon Intensity Indicator (CII) and the European Union’s (EU) Emission Trading System (ETS), researchers from the University of Piraeus have said that... Read more
- 2026-06-30
  Asyad Group and CMA CGM partner on new Port of Sohar terminal
  Asyad Group and CMA CGM have signed a framework agreement on the development of a $400 million new multipurpose logistics terminal at the Port of Sohar in Oman. The agreement was signed during an official visit of His Majesty Sultan Haitham bin Tarik... Read more
- 2026-06-30
  Arkas Bunker: ‘Our biofuel infrastructure is ready, our products are ready’
  In the two years it has been involved in the supply of biofuel, Türkiye’s Arkas Bunker has supplied over 15,000 tons of fuel across 60 bunkering operations. In an update on its biofuel activities delivered at a recent Biofuels in Shipping seminar held... Read more
- 2026-06-30
  Methanex idling Trinidad and Tobago methanol plant indefinitely
  Methanex Corporation has announced that it is to begin the process of indefinitely idling its 860,000 tonnes per year capacity Titan methanol plant in Trinidad and Tobago (T&T). In a statement issued yesterday (29 June), Vancouver-based Methanex said... Read more
- 2026-06-30
  Bunker company Heinrich Wegener & Sohn joins Global Ethanol Association
  Germany-based bunker and marine lubricants supplier Heinrich Wegener & Sohn Bunkergesellschaft M.b.H has become the latest member of the Global Ethanol Association. In a statement issued yesterday (29 June), the Global Ethanol Association, which, as... Read more
- 2026-06-30
  Carnival completes Celebration Key pier extension
  Carnival Corporation has completed the Celebration Key pier extension on Grand Bahama Island, which will enable the facility to handle four cruise ships simultaneously and welcome more than 13,000 guests a day. Celebration Key opened last year with... Read more
- 2026-06-30
  Oil falls as investors focus on potential Iran-US talks in Doha
  Oil prices dipped on Tuesday and were poised for a second month of declines, with investors eyeing potential U.S.-Iran talks in Doha amid a strained interim ceasefire in the four-month-old war. Brent August crude futures, which expire on Tuesday, were... Read more Oil prices dipped on Tuesday and were poised for a second month of declines, with investors eyeing potential U.S.-Iran talks in Doha amid a strained interim ceasefire in the four-month-old war.
  
  Brent August crude futures, which expire on Tuesday, were down 0.9%, or 64 cents, at $72.51 a barrel as of 0356 GMT. These levels are around $20, or 22%, lower than last month’s closing. The more actively traded September contract was down 0.4%, or 31 cents, at $73.6 a barrel.
  
  U.S. West Texas Intermediate for August fell 0.6%, or 39 cents, to $70.36 a barrel. Prices are set for around a $17 drop, or 19%, from the May 29 closing.
  
  Both Brent and WTI prices are almost back at pre-war levels on February 27.
  
  "Investors are pricing in hopes of a positive outcome from the Doha talks, even though real normalisation of flows through the Strait of Hormuz is not yet visible," said Tim Waterer, chief market analyst at KCM Trade.
  
  "The market is cautiously hopeful but still hedging its bets until we see more tangible signs of de-escalation," Waterer added.
  
  Iranian and Omani experts will start talks on redefining transit paths through the Strait of Hormuz in the coming days, Iranian Deputy Foreign Minister Kazem Gharibabadi told state TV on Monday, adding that his country will try to obstruct vessels outside defined paths.
  
  However, Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said there will not be any negotiation meetings at any level with the American side in the coming days.
  
  "The meeting in Doha is going to be perhaps important, perhaps not. We’re going to find out," U.S. President Donald Trump told reporters in the Oval Office.
  
  The uncertainty over whether the two sides would meet highlighted the fragility of a June 17 agreement to pause fighting that has disrupted global oil flows through the Strait of Hormuz and posed a political challenge for Trump ahead of November’s congressional elections.
  
  Weighing further on prices, some analysts were concerned about demand from China.
  
  "We wait for more evidence of a rise in Chinese buying but cannot yet bet on a big return to the market from the world’s largest crude importer," said Sparta Commodities head of research Neil Crosby.
  
  Meanwhile, Middle East producers are pushing ahead with loading oil and LNG despite fresh ship attacks in the Strait of Hormuz and renewed strikes between the U.S. and Iran in recent days, shipping data showed.
  
  Traffic last week hit its highest level since the conflict began at the end of February. Source: Oilprice.com
- 2026-06-30
  The Next Oil Rally Could Be Driven by Stockpile Buying
  The war in the Middle East has cost the world over a billion barrels in cumulative supply losses. Yet luckily, China had built a reserve of about the same size before the closure of Hormuz, so it stopped buying so much oil, arresting the inevitable price... Read more The war in the Middle East has cost the world over a billion barrels in cumulative supply losses. Yet luckily, China had built a reserve of about the same size before the closure of Hormuz, so it stopped buying so much oil, arresting the inevitable price jump. Now, everyone wants to build an oil reserve—or needs to replenish the ones they already have.
  
  Back in March, soon after the U.S. and Israeli attacks on Iran began, prompting the latter to retaliate by closing the Strait of Hormuz, the International Energy Agency said it would release 400 million barrels of crude from its joint emergency reserve. The reserve was set up, along with the IEA, as a response to the Arab oil embargo and other supply disruptions from the 70s, when the world was even more dependent on Middle Eastern crude than it is today.
  
  The release announced in March worried oil market observers because it was set to be the largest ever made, much larger than what the IEA member states released in 2022 when Western sanctions on Russia following its incursion into Ukraine prompted a price spike. Back then, the IEA only released 182 million barrels. Now, member states stood ready to release 400 million barrels, plus millions of barrels from the U.S. strategic petroleum reserve.
  
  All these millions of barrels would need to be replenished once the crisis is over, or even before it is over if it drags on. Analysts have been warning about it and about the potential of this replenishment drive to lift international prices, which have remained stubbornly depressed, even amid fresh reports of new strikes between Iran and the United States. Yet on top of the replenishment drive, there are nations seeking to build their own strategic reserves to insulate themselves from future shocks.
  Related: Philippines Becomes World's Top Solar Panel Buyer
  
  Reuters noted in a recent report that nations that had limited oil reserves at home had felt the pain from the closure of Hormuz more sharply than those with ample reserves. Such a conclusion is, of course, a no-brainer, but it is indicative of something besides the obvious, namely, that crude oil remains the ultimate fuel of the global economy, regardless of the acceleration of transition efforts in the past decade.
  
  Multiple reports following the outbreak of war in the Middle East said it would prompt energy importers to switch to things like wind and solar in order to reduce their dependence on those imports of crude from the Middle East. Indeed, many governments across Asia—the most vulnerable region—did double and triple down on wind and solar, but at the same time signaled they are aware these cannot replace hydrocarbons to any meaningful degree. So they also started thinking about building an oil reserve. China was the inspiration.
  
  There seems to be a pretty comprehensive agreement among energy analysts that China played an instrumental role in keeping the world from drowning in three-digit oil prices. It did this thanks to its tendency to plan well ahead and prepare for adverse events, such as a war in the Middle East. China had been buying oil on the cheap from Iran, Russia, and Venezuela for years, building the most massive oil reserve in the world. Funnily enough, reports about the gap between Chinese crude imports and refinery run rates served to keep a lid on prices, keeping oil cheaper for longer, helping China build its reserve. And when the war came, China slashed imports and dug into its oil inventories.
  
  Following China’s example may be quite a challenge, though it seems simple on the face of it. The challenge, of course, is financial. India, for instance, wants to boost its own oil reserve, which is currently unacceptably low, covering just eight days of imports. The government has already instructed state major ONGC to add 13 million barrels to its crude reserve, but those 13 million barrels will not go a long way in case of shortages—and buying enough oil to help in case of shortages would cost tens of billions of dollars. India, by the way, is not the only large oil importer thinking of boosting its oil reserves. And China will need to refill its reserve, as will IEA members.
  
  What this means is that demand for crude oil is about to rise the moment there is an indication that the crisis in the Middle East is over, for real this time. Even the International Energy Agency—of peak oil demand fame—said in its latest monthly oil report that it expected global oil demand to rebound to 2 million barrels daily in 2027, after dipping by 1.1 million barrels daily this year due to the crisis and its effect on supply and prices. In good news for buyers, the news of stronger demand would probably push oil prices lower. Source: Oilprice.com
- 2026-06-30
  MABUX: Global bunker market to maintain irregular fluctuations on Jun. 30.
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — remained mixed on Jun. 29: 380 HSFO: USD/MT: 551.40 (-2.34) VLSFO: USD/MT 710.93 (-2.12) MGO: USD/MT 1 072.76 (+7.21) As of Jun. 29, the... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — remained mixed on Jun. 29:
  
  380 HSFO: USD/MT: 551.40 (-2.34)
  VLSFO: USD/MT 710.93 (-2.12)
  MGO: USD/MT 1 072.76 (+7.21)
  
  As of Jun. 29, the MABUX Market Differential Index (MDI), which measures the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP) — showed the following developments across the four major global bunkering hubs: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Rotterdam, Singapore and Houston remained undervalued, with discounts narrowing by $16, $17 and $28, respectively. Fujairah was the only overvalued port, with its premium widening by $22. Singapore's MDI fell below the $100 threshold.
  
  • VLSFO segment: Rotterdam returned to the overvalued zone, joining Singapore and Fujairah. Premiums increased by $26 in Rotterdam and $19 in Singapore but decreased by $10 in Fujairah. Houston remained the only undervalued port with the discount narrowing by $17. Fujairah's MDI continued to exceed the $100 threshold.
  
  • MGO LS segment: Three ports: Rotterdam, Singapore and Houston, were in the undervalued zone, with margins decreasing by $37, $37, and $26, respectively. Fujairah stayed overvalued, with its premium increasing by $2. MDI values in all four ports remained above the $100 threshold.
  
  MABUX expects the Global bunker market to remain range-bound on Jun. 30: plus-minus 5-10 USD/MT, VLSFO: plus-minus 5–10 USD/MT, MGO LS: plus-minus 5–10 USD/MT.
  Source: MABUX
- 2026-06-30
  Is Libya Quietly Becoming the Biggest Oil Prize the West Can’t Afford to Ignore?
  At around the same time as OPEC raised its long-term oil demand forecast for the third consecutive year — now expecting global consumption to rise 19 million barrels per day (bpd), or 18%, by 2050 — Libya’s state-owned National Oil Corporation (NOC) announced... Read more At around the same time as OPEC raised its long-term oil demand forecast for the third consecutive year — now expecting global consumption to rise 19 million barrels per day (bpd), or 18%, by 2050 — Libya’s state-owned National Oil Corporation (NOC) announced that the country’s oil production is now at the highest level in 13 years. Its current 1.487 million bpd crude output is just a whisker away from the NOC’s short-term strategy of producing 1.5 million bpd of oil, which opens the way for the long-term strategic target of 2.1 million bpd to be achieved within the next three to five years. The reason underpinning OPEC’s latest increase in long-term oil demand — governments increasingly prioritising energy security, rather than aggressively transitioning away from hydrocarbons — has also been key to the rise in foreign investment and oil developments in Libya, especially from Western firms. Since the onset of the Russian war in Ukraine on 24 February 2022, they have been busily sourcing new oil and gas supplies around the world to make up for those lost due to sanctions on Russia’s energy exports. So, how realistic does Libya’s long-term 2.1 million bpd oil output target look?
  
  From a geological standpoint, nothing stands in the way of Libya reaching much higher production levels. The country holds around 48 billion barrels of proved crude reserves — the largest in Africa — and before Muammar Gaddafi was removed in 2011, it had no difficulty sustaining output of roughly 1.65 million bpd of high?quality light, sweet crude. The flagship grades, Es Sider and Sharara, were especially prized in the Mediterranean and Northwest Europe for their strong gasoline and middle?distillate yields. Production had also been on a steady upward path, rising from about 1.4 million bpd in 2000, even if still far below the more than 3 million bpd achieved in the late 1960s. Crucially, the NOC had already laid out plans before 2011 to deploy enhanced oil recovery (EOR) techniques across maturing fields. Its estimate that EOR could add around 775,000 bpd of capacity looked entirely credible, and Western interest in new upstream developments showed no sign of fading at the time.
  
  In late 2021, the country’s Government of National Unity (GNU) approved the sale of the 8.16% stake in the country’s giant Waha oil concessions held by the U.S.’s Hess Corporation to the remaining stakeholders. Those were France’s TotalEnergies (with a 16.3% share), and ConocoPhillips (also 16.3%), each of which was to be offered half of Hess’s stake. This followed positive news in April last year after the meeting between NOC chairman, Mustafa Sanalla, and the chief executive officer of TotalEnergies, Patrick Pouyanne. The French firm agreed to continue with its efforts to increase oil production from the giant Waha, Sharara, Mabruk and Al Jurf oil fields by at least 175,000 bpd and to make the development of the Waha-concession North Gialo and NC-98 oil fields a priority, according to the NOC. The Waha concessions — in which TotalEnergies took a minority stake in 2019 — had the capacity to produce at least 350,000 bpd together, according to the NOC. At around the same time, news emerged that Shell was looking to return to Libya, after senior representatives of the company met with NOC chairman Mustafa Sanalla during their visit to Tripoli. Shell had ceased its operations in Libya in 2012, partly due to contract terms but mainly because of the deteriorating security situation after the removal of Gaddafi.
  
  However, by mid-June 2022, another blockade of Libya’s oil had begun, as key elements of the landmark peace agreement negotiated on 18 September 2020 to end the previous mammoth blockade had not been implemented. At the time, Commander of the rebel Libyan National Army (LNA), General Khalifa Haftar, had made it clear to the opposing side with which the deal had been struck — Tripoli’s U.N.-recognised Government of National Accord (GNA) — that it would be an interim arrangement only while a solution was worked out on how the country’s oil revenues would be distributed over the long term. The key to this in his view, and supported by the GNA back then, would be the formation of a joint technical committee, which would: “Oversee oil revenues and ensure the fair distribution of resources… and control the implementation of the terms of the agreement during the next three months, provided that its work is evaluated at the end of 2020 and a plan is defined for the next year.” To address the fact that the then-GNA effectively held sway over the NOC and, by extension, the Central Bank of Libya (CBL) in which the revenues are held, the committee would also “prepare a unified budget that meets the needs of each party… and the reconciliation of any dispute over budget allocations… and will require the Central Bank [in Tripoli] to cover the monthly or quarterly payments approved in the budget without any delay, and as soon as the joint technical committee requests the transfer.”
  
  None of these measures had been sufficiently put into place at that point in 2022 to avoid another major blockade following the one in 2020, and they still have not. Instead, 11 April this year saw rival factions enact a national budget for 2026, with a total value of LYD190 billion (US$29.6 billion). The budget framework also explicitly allocates a LYD12 billion ring-fenced operational budget directly to the NOC to guarantee energy production and stability. Although the budget idea was heavily supported by the recently appointed Governor of the CBL, Naji Mohammed Issa, alongside international mediation by U.S. Senior Adviser Massad Boulos, various factions see it as an elite-driven, anti-democratic carve-up. For example, independent military councils and militias in western Libya (Tripoli, Misrata, and Zawiya) characterise it as the financial baseline for a U.S.-brokered political roadmap that would leave Abdul Hamid Dbeibah as Prime Minister while elevating Saddam Haftar (one of Khalifa Haftar’s sons) to the presidency. Moreover, major institutional players within the western region’s governance structure — including the Presidential Council and High Council of State — have formally rejected the political arrangements underlying the budget, arguing that the deal bypasses the UN-led peace process. Additionally, Libya’s highly influential Grand Mufti, Sheikh Sadiq al-Gharyani, has fiercely opposed the budget on the basis that it amounts to “handing over full power” to Khalifa Haftar and his sons. He has publicly called on Western region military forces and Prime Minister Dbeibah to abandon the pact, framing it as an existential betrayal of the Western region’s autonomy. And finally, several factions maintain that instead of fixing state corruption, the budget has simply institutionalised it into a better-organised and more clearly coordinated framework for theft.
  
  Although this backdrop looks just as possible as the previous one to result in future oil blockades in the country, Western countries and their firms appear undaunted. “There’s a basic view that it’s [Libya] been trouble since 2011 and may well continue to be, but at some point it may work itself out, and there aren’t too many other [oil and gas] options of that size available right now,” a senior source who works closely with the European Union’s (E.U.) energy security complex exclusively told OilPrice.com last week. So, as it stands, Italy’s Eni recently announced new offshore gas discoveries in Libya, near the Bahr Essalam field, Libya’s largest producing offshore gas field, with preliminary estimates being that there is more than 1 trillion cubic feet (Tcf) of gas in place. This deepwater drilling underlines Western firms’ confidence in their ability to continue their business in Libya over many years, as it requires long-term capital and security guarantees. Great Britain’s BP is also working alongside Eni in the Sirte basin’s Matsola exploration prospect in Contract Area 38/3 in the Mediterranean Sea. The joint venture is committed to drilling a further 16 wells in Libya, across onshore and offshore areas, while BP recently signed a memorandum of understanding to evaluate options for redeveloping the giant Sarir and Messla onshore fields, and to assess potential unconventional oil and gas development. Meanwhile, TotalEnergies also recently announced the restart of production at Libya’s Mabruk oil field, illustrating its “long-term commitment in Libya,” according to the firm. And U.S.-based technology and engineering giant KBR was recently awarded a contract to provide project management and technical services for the South Refinery Project (SRP) in Ubari, southwest Libya, in line with KBR’s efforts to advance key oil and gas infrastructure across the country. Source: Oilprice.com

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