Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
775.50
0.00
707.00
+5.00
Jul 15
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	775.50	0.00	707.00	+5.00	Jul 15

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
471.61	+5.66	562.01	+4.72	799.13	+14.07	Jul 18

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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	445	450	-5	510	506	+4	707	705	+2	Jul 18
Singapore	418	460	-42	520	550	-30	697	738	-41	Jul 18
Fujairah	397	494	-97	509	554	-45	738	891	-153	Jul 18
Houston	445	471	-26	501	592	-91	723	771	-48	Jul 18

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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
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- 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
- 2025-07-18
  AMERICAS: MARTIN MIDSTREAM POSTS $3.4 MILLION LOSS FOR H1 2025
  The US-based terminal and barge operator Martin Midstream Partners has posted net losses of $2.4 million and $3.4 million respectively for the second quarter (Q2) and first half (H1) of 2025. Bob Bondurant, President and Chief Executive Officer of... Read more
- 2025-07-18
  GLOBAL: NAVIGATOR AND AMON MARITIME SET UP JOINT VENTURE TO BUILD TWO AMMONIA-FUELLED GAS CARRIERS
  Navigator Gas, a London-headquartered owner of liquefied gas carriers, has formed a joint venture with Norwegian maritime project development company Amon Maritime to build two new 51,530 cubic metre (cbm) liquefied ammonia carriers that will use ammonia... Read more
- 2025-07-18
  AMERICAS: ROLLS-ROYCE COMPLETES SALE OF NAVAL PROPULSORS BUSINESS TO FAIRBANKS MORSE DEFENSE
  Rolls-Royce has completed the sale of its US-based Naval Propulsors business – which includes facilities in Pascagoula, Mississippi and Walpole, Massachusetts – to Fairbanks Morse Defense (FMD). The sale of the Naval Propulsors business was first announced... Read more
- 2025-07-18
  GLOBAL: ARDMORE SHIPPING JOINS SMART MARITIME COUNCIL
  In a move which it says demonstrates its commitment to ‘data-driven decision-making and sustainable shipping operations’, the US-headquartered products and chemical tanker owner Ardmore Shipping has joined the Smart Maritime Council. Garry Noonan,... Read more
- 2025-07-18
  GLOBAL: MPC CONTAINER SHIPS ORDERS FOUR METHANOL-READY BOXSHIPS
  Oslo-listed MPC Container Ships (MPCC) has placed a $228 million order for four 4,500 TEU (twenty-foot equivalent unit) container ships with 3-year charters. The vessels, which are scheduled to be delivered from the second half of 2027, will be built... Read more
- 2025-07-18
  GLOBAL: YANG MING ORDERS SEVEN DUAL-FUEL LNG CONTAINERSHIPS FROM HANWHA OCEAN CO.
  Taiwan’s Yang Ming Marine Transport Corporation has today (17 July) announced an order for seven 15,000 TEU (twenty-foot equivalent unit) LNG dual-fuel containerships. The boxships, which will replace aging vessels, will be built by South Korea’s Hanwha... Read more
- 2025-07-18
  Oil prices little changed as Iraq outages clash with tariff worries
  Oil prices were little changed on Friday after rising in the previous session as concerns drone attacks on northern Iraqi oil fields will cut supply vied with worries of potential demand declines amid uncertainty in U.S. tariff policy. Brent crude futures... Read more Oil prices were little changed on Friday after rising in the previous session as concerns drone attacks on northern Iraqi oil fields will cut supply vied with worries of potential demand declines amid uncertainty in U.S. tariff policy.
  Brent crude futures eased 4 cents, or 0.06%, to $69.48 a barrel as of 0239 GMT, U.S. West Texas Intermediate crude futures edged down 3 cents, or 0.04%, to $67.51 a barrel.
  Four days of drone attacks on oil fields in Iraqi Kurdistan that shut down half of the region’s output have supported prices, pushing both contracts up $1 on Thursday.
  Additionally, seasonal travel demand has propped up the market. In the first two weeks of July, global oil demand has averaged 105.2 million barrels per day (bpd), up by 600,000 bpd from a year earlier and largely in line with forecast, JPMorgan analysts said in a research note.
  Still, the uncertainty around the final U.S. tariff policy, which does not appear will be settled until after August 1, is weighing on the market along with plans by major oil producers to remove their output cuts that will add to supply as the seasonal Northern Hemisphere summer demand ends. For this week, both Brent and WTI are down over 1%.
  "Near-term oil fundamentals remain supportive, with the market set to remain fairly tight through this quarter, before becoming better supplied from the last three months of the year," ING analysts said in a note.
  
  Oil output in the semi-autonomous Kurdistan region has been slashed by between 140,000 and 150,000 barrels per day, two energy officials said, more than half the region’s normal output of about 280,000 bpd.
  
  Officials pointed to Iran-backed militias as the likely source of attacks this week on the oilfields in Iraqi Kurdistan, although no group has claimed responsibility.
  Despite the attack, Iraq’s federal government said on Thursday that Iraqi Kurdistan will resume oil exports through a pipeline to Turkey after a two-year halt. Source: Reuters/Investing.com
- 2025-07-18
  Why Oil Prices Could See a Significant Upside Shift
  The 9th OPEC International Seminar was held in Vienna a week ago, wherein participants discussed energy security, investment, climate change, and energy poverty, with a particular emphasis on balancing these competing priorities. According to commodity... Read more The 9th OPEC International Seminar was held in Vienna a week ago, wherein participants discussed energy security, investment, climate change, and energy poverty, with a particular emphasis on balancing these competing priorities. According to commodity analysts at Standard Chartered, the summit titled "Charting Pathways Together: The Future of Global Energy" featured significantly greater engagement from international oil companies and consuming country governments, with discussions converging on a more inclusive shared agenda rather than non-intersecting approaches seen in previous years. However, StanChart reported there was a clear mismatch between what energy producers vs. market analysts think about spare production capacity. Unlike Wall Street analysts, who frequently talk about spare capacity of 5-6 million barrels per day (mb/d), speakers from several sectors of the industry noted thatspare capacity is both limited and very geographically concentrated.
  
  StanChart believes this erroneous assumption about spare capacity has been a big drag on oil prices, and the implications for the whole forward curve of oil prices could be potentially profound once traders realize that roughly two-thirds of the capacity they thought was available on demand does not actually exist. This makes the analysts bullish about the general shape of their forecast 2026 price trajectory (Figure 32), i.e., a set of significant upward shifts as opposed to the flat trajectory seen in the market curve and in analyst consensus. In other words, oil prices could have as much as $15/barrel upside from current levels.
  
  StanChart is not the only oil bull here. Goldman Sachs recently hiked its oil price forecast for H2 2025, saying the market is increasingly shifting its focus from recession fears to potential supply disruptions, low spare capacity, lower oil inventories especially among OECD countries and production constraints by Russia. GS has increased its Brent forecast by $5/bbl to $66/bbl, and by $6 for WTI crude to $63/bbl, slightly lower than current levels of $68.34/bbl and 66.24/bbl for Brent and WTI crude, respectively. However, the Wall Street bank has maintained its 2026 price forecast at $56/bbl for Brent and $52 for WTI, due to "an offset between a boost from higher long-dated prices and a hit from a wider 1.7M bbl/day surplus.’’ Previously, GS had forecast a 1.5M bbl/day surplus for the coming year. Further, Goldman sees a stronger oil price rebound beyond 2026 due to reduced spare capacity.
  
  Bullish On Gas Prices
  
  EU natural gas inventories have climbed at faster-than-average clip in recent times. According to Gas Infrastructure Europe (GIE) data, Europe’s gas inventories stood at 73.10 billion cubic metres (bcm) on 13 July, good for a 2.31 bcm w/w increase. Still, the injection rate is not enough to completely fill the continent's gas stores, with the current clip on track to take inventories to about 97.9 bcm, or 84.3% of storage capacity, at the end of the injection season.
  
  Europe’s gas demand remains fairly lacklustre despite extremely high temperatures across much of the continent in recent weeks. According to estimates by StanChart, EU gas
  
  demand for the first 14 days of July averaged 583 million cubic meters/day, nearly 3% lower from a year ago but a 10% improvement from the June lows.
  
  However, StanChart is bullish on natural gas prices, saying the market is likely underestimating the likelihood of more Russian gas being taken off the markets.
  
  Back in April, U.S. senators Lindsey Graham (Republican) and Richard Blumenthal (Democrat), introduced ‘Sanctioning Russia Act of 2025’, with the legislation enjoying broad bipartisan support (85 co-sponsors in the Senate out of 100 senators). In a joint statement on 14 July, the two senators noted that President Trump’s decision to implement 100% secondary tariffs on countries that buy Russian oil and gas if a peace agreement is not reached within 50 days but pledged that they will continue to work on “bipartisan Russia sanctions legislation that would implement up to 500 percent tariffs on countries that buy Russian oil and gas”. StanChart has predicted that the Trump administration is unlikely to take actions that risk driving oil prices higher; however, Russian gas remains in the crosshairs, with U.S. LNG likely to see a surge in demand if Russian gas exports are curtailed.
  
  StanChart estimates that the EU’s net imports of Russian pipeline gas averaged 79.8 million cubic metres per day (mcm/d) in the first 14 days of July, with all non-transit flows into the EU coming into Bulgaria through the Turkstream pipeline, with Hungary and Slovakia also receiving Turkstream gas. There was also a flow of about 65 mcm/d of Russian LNG in the first half of July, with Russia providing 18.6% of the EU’s net imports. StanChart has predicted that we could see a strong rally in natural gas prices if Washington slaps Moscow with fresh gas sanctions.
  
  Source: Oilprice.com
- 2025-07-18
  MABUX: Global bunker market poised to resume upward movement on Jul.18.
  The MABUX World Bunker Index—a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO – continued its downward trend on Jul.17, marking the third consecutive day of decline: 380 HSFO - USD/MT - 465.95 (-0.90) VLSFO - USD/MT – 557.29... Read more The MABUX World Bunker Index—a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO – continued its downward trend on Jul.17, marking the third consecutive day of decline:
  
  380 HSFO - USD/MT - 465.95 (-0.90)
  VLSFO - USD/MT – 557.29 (-1.09)
  MGO - USD/MT – 785.06 (-2.62)
  
  As of Jul.17, the MABUX Market Differential Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP)— revealed the following bunker price dynamics across major global ports: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: all four ports remained undercharged. Rotterdam saw its discount narrow by $1, maintaining a near-complete (100%) correlation between MBP and DBP. In contrast, the discount widened by $1 in Singapore, by $4 in Fujairah, and by $6 in Houston.
  
  • VLSFO segment: Rotterdam continued to be the only overpriced port, though its premium fell by $1, moving its MDI closer to full MBP-DBP correlation. Singapore, Fujairah, and Houston remained undercharged. The discount in Singapore was unchanged, while Fujairah experienced a $4 increase and Houston a $2 decrease.
  
  • MGO LS segment: Rotterdam stayed in the undercharge zone with a notable $10 increase in its premium, keeping its MDI close to full correlation. Singapore, Fujairah, and Houston also remained undercharged, with discounts narrowing by $9 in Singapore, $13 in Fujairah, and $10 in Houston. Fujairah’s MDI remained well above the $100 mark.
  
  We expect the global bunker market indices to resume a slight upward trend on Jul.17: 380 HSFO – plus 2-5 USD/MT, VLSFO – plus 2-6 USD/MT, MGO LS – plus 5-12 USD/MT.
  Source: MABUX
- 2025-07-18
  4 Oil Market Myths That Just Won’t Die
  They've been debunked. Repeatedly. But like zombies in a horror movie, these oil market myths just won’t stay dead. From campaign slogans to cocktail party arguments, here's what the data really says. 1) The U.S. is Energy Independent Energy independence... Read more They've been debunked. Repeatedly. But like zombies in a horror movie, these oil market myths just won’t stay dead. From campaign slogans to cocktail party arguments, here's what the data really says.
  
  1) The U.S. is Energy Independent
  
  Energy independence has been a key slogan in the campaigns and presidential terms of President Donald Trump. Make America Great Again and Make the US Energy Independent have often been tied into one pledge or claim.
  
  Fact: While the U.S. became a net petroleum exporter in 2020 for the first time since records began in 1949, it still imports more than 8 million barrels per day (bpd) of crude oil, refined products, biofuels, and hydrocarbon gas liquids. In 2023, about 6.48 million bpd of that was crude oil—roughly 76% of total gross petroleum imports—according to the U.S. Energy Information Administration (EIA). That means the U.S. exports more total petroleum than it imports, but it remains a net importer of crude oil specifically.
  
  The top five source countries of U.S. gross petroleum imports in 2023 were Canada, Mexico, Saudi Arabia, Iraq, and Brazil. Canada alone accounted for more than half – 52% -- of all petroleum imports into the United States. Mexico came second with an 11% share and Saudi Arabia third with 5% of all U.S. gross petroleum imports.
  
  The common misconception probably comes from the fact that the U.S. also exports crude oil and other petroleum products—and these have exceeded the imports in the past four years.
  
  In 2023, the United States exported about 10.15 million bpd of petroleum to 173 countries and 3 U.S. territories, per the EIA data. Crude oil exports of about 4.06 million bpd accounted for 40% of total U.S. gross petroleum exports. The resulting total net petroleum imports (imports minus exports) were about -1.64 million bpd, which means that the United States was a net petroleum exporter of 1.64 million bpd in 2023.
  
  U.S. petroleum imports peaked in 2005 and have been declining since then as increased domestic petroleum production and increased petroleum exports have helped to reduce annual total petroleum net imports.
  
  The U.S. became a net petroleum exporter in 2020, for the first time since in EIA data going back to 1949.
  
  Although U.S. annual total petroleum exports were greater than total petroleum imports, the United States still imports more crude than it exports, remaining a net crude oil importer.
  
  Despite record U.S. crude oil production, U.S. refineries need heavier crudes than the light crudes from the shale basins to process into fuels. That’s another reason why Canadian crude is the biggest foreign source of crude apart from the proximity and the pipelines shipping it south to the demand and refining hubs in the Midwest and the U.S. Gulf Coast.
  
  2.) OPEC Alone Controls Oil Prices
  
  Another myth that’s been around since the Arab oil embargo in the 1970s is that OPEC, the Organization of the Petroleum Exporting Countries, is solely responsible for international oil prices.
  
  Not that OPEC hasn’t tried – and succeeded – through the years in boosting or tanking oil prices, but the price of oil is not only a function of supply, much of which the cartel controls.
  
  The price is also determined by demand. In cases of slowing economies, recessions, weak economies in major oil-consuming emerging markets, or global pandemics, demand tanks. OPEC often reacts to these events by reducing supply, but it cannot directly influence demand.
  
  Slowing demand – even if it’s only forward concerns about weaker demand not actual data points – depresses oil prices. The most recent case in point is the market rout from early April, when President Trump’s tariff announcement sparked concerns about looming recessions.
  
  Oil prices are also often influenced by geopolitical events, including wars and conflicts, which are outside of OPEC’s control. For example, the Russian invasion of Ukraine in 2022 led to a surge in oil prices to above $100 per barrel and to spikes in energy prices and the cost of living in many countries. The 12-day war between Israel and Iran in June also raised oil prices amid fears that the world’s most important crude shipping lane – the Strait of Hormuz – could be blocked or that energy infrastructure in the Middle East could be hit.
  
  3) The U.S. President Can Control Gasoline Prices in America
  
  The most recent Middle East conflict was put out after a U.S. strike on Iranian nuclear sites. The ceasefire announced by President Trump eased the upward pressure on oil prices, which returned to pre-war levels.
  
  The President may have indirectly influenced the price of oil, but not a single U.S. President can control global oil prices, which are the largest price component of U.S. gasoline prices.
  
  Global and U.S. supply and demand are the key factors behind crude oil prices. The cost of crude oil is the single biggest driver of U.S. retail gasoline prices—it accounts for over 52% of the price of a gallon of retail regular gasoline, according to EIA’s estimates. In 2023, federal and state taxes made up 14.4% of the price of a gallon of gasoline, distribution and marketing costs and profits accounted for 14.3%, and refining costs and profits – for 18.7%.
  
  Presidents mostly tend to take credit for lower gasoline prices and blame high gasoline prices on previous administrations, Putin, or whomever appears conveniently blameable. That’s to confirm the adage that high gasoline prices are one of the worst fears of a sitting President.
  
  Most recently, former President Biden and the Democrats blamed Putin for the $5 a gallon gasoline price in 2022.
  
  President Trump and his allies are currently touting the energy policies for delivering the cheapest Independence Day gas prices in four years.
  
  In reality, President Trump’s trade and tariff policies have spooked markets and depressed oil prices as traders and speculators continue to be concerned about the global and U.S. economies amid the trade chaos. With lower oil prices, the U.S. shale patch will be struggling to “drill, baby, drill”, as President Trump loves to say.
  
  4) Oil Will Soon be Replaced by Renewables
  
  “Oil is dead,” said every headline since 2015. And yet, here we are…
  
  The International Energy Agency (IEA) continues to insist on its narrative that a peak in global oil demand is still on the horizon—by the end of the decade.
  
  Annual global growth will slow from about 700,000 barrels per day (bpd) in 2025 and 2026 “to just a trickle over the next several years, with a small decline expected in 2030, based on today’s policy settings and market trends,” the IEA said in its annual Oil 2025 report for the medium term.
  
  Most industry analysts and oil majors expect demand to plateau at some point in the 2030s, but none see consumption falling off a cliff.
  
  EVs could dent road transportation fuel demand in China and Europe, but airplanes and ships will still need petroleum-based fuels, in the foreseeable future.
  
  Solar and wind could replace a large part of fossil fuels in power generation, but they cannot make petrochemicals, your Legos, jeans, jackets, or shampoos.
  
  Despite endless forecasting, oil keeps adapting to the very trends that were supposed to kill it.
  
  Myths endure because they’re simple. But energy markets aren’t. They’re messy, global, and driven by forces far beyond the reach of soundbites. Whether you're bullish, bearish, or just trying to survive your next gas station fill-up, it's worth knowing what’s fact — and what’s fossilized fiction.
  
  Source: Oilprice.com

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