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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
994.00
0.00
1 095.00
+15.00
Jun 8
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	994.00	0.00	1 095.00	+15.00	Jun 8

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
714.76	+3.38	873.96	+4.54	1 309.84	-5.65	Jun 8

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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	615	655	-40	710	725	-15	1 095	1 207	-112	Jun 8
Singapore	638	683	-45	783	811	-28	1 150	1 200	-50	Jun 8
Fujairah	661	627	+34	1 250	771	+479	1 560	1 263	+297	Jun 8
Houston	660	674	-14	758	782	-24	1 130	1 144	-14	Jun 8

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Latest News
- 2026-06-08
  Pooling in practice
  The first annual emissions reporting and verification period for FuelEU Maritime (FEUM) closed on 30 April this year. The end of this element of the compliance process offers an opportunity to take stock of how vessel pooling, which enables under-compliant... Read more
- 2026-06-08
  ACP announces draft reduction in Panama Canal’s Neopanamax locks
  The Panama Canal Authority (ACP) is reducing the maximum authorised draft for vessels transiting the waterway’s Neopanamax locks in response to the widely expected arrival of an El Niño in the coming months. Based on present and projected Gatun Lake... Read more
- 2026-06-08
  ORLEN inviting stakeholders’ views on development of LNG infrastructure in Poland and Lithuania
  Integrated energy company ORLEN has launched a market demand survey calling for stakeholders’ insights in the development of its small-scale LNG and bioLNG supply infrastructure in Poland and Lithuania. In a statement issued today (8 June), ORLEN said... Read more
- 2026-06-08
  Laura Maersk bunkered with 100% ethanol by barge
  Maersk’s 2,100 TEU (twenty-foot equivalent unit) dual-fuel feeder container ship, Laura Maersk, was bunkered with 100% ethanol last week. The fuelling, which took place in the Port of Rotterdam, marked the second time the vessel had been bunkered with... Read more
- 2026-06-08
  Seascale Energy and LR Advisory in decarbonisation knowledge-sharing initiative
  Bunker procurement platform Seascale Energy has entered into a strategic knowledge partnership with Lloyd’s Register Advisory (LR Advisory). In a statement issued last week, Seascale Energy, which as previously reported by ship.energy, is a joint venture... Read more
- 2026-06-08
  ACP announces draft reduction in Panama Canal’s Neopanamax locks
  The Panama Canal Authority (ACP) is reducing the maximum authorised draft for vessels transiting the waterway’s Neopanamax locks in response to the widely expected arrival of an El Niño in the coming months. Based on present and projected Gatun Lake... Read more
- 2026-06-08
  Oil prices climb more than $3 after Israeli strikes on Lebanon
  Brent oil prices jumped more than $3 a barrel on Monday, initially spooked by Israel’s launch of renewed strikes on Lebanon a day earlier, but also gaining further steam after sounds of explosions were heard in Iran. Sounds of blasts were heard - in... Read more Brent oil prices jumped more than $3 a barrel on Monday, initially spooked by Israel’s launch of renewed strikes on Lebanon a day earlier, but also gaining further steam after sounds of explosions were heard in Iran.
  
  Sounds of blasts were heard - in Tehran, Tabriz and Isfahan, local media reported early on Monday, eroding hopes for an imminent end to the wider war and a restart to crude flows through the Strait of Hormuz.
  
  Brent crude futures rose $3.20 or 3.39% to $96.24 a barrel while U.S. crude futures were up $2.87 or 3.17% at $93.41 per barrel as of 0333 GMT.
  
  Those gains erased Friday’s losses, when prices fell on hopes of a de-escalation in the U.S.-Iran conflict, which has seen oil prices rise over 50% since March.
  
  Though Iran on Sunday fired a salvo of missiles at Israeli targets in retaliation, U.S. President Donald Trump insisted that an agreement to end the wider war remains well within reach.
  
  Trump also reportedly told Israeli Prime Minister Benjamin Netanyahu to refrain from further attacks.
  
  "It’s not going to have any impact on the deal," Trump told the Financial Times. "I call the shots. I call all the shots. He doesn’t call the shots."
  
  Iran has made a ceasefire with Lebanon a condition for a peace deal with Washington.
  
  Israel invaded Lebanon in March after Iran-backed Hezbollah fired rockets and drones across the border. Lebanon and Israel said on June 3 that they had agreed to a ceasefire following negotiations in Washington.
  
  The two countries had previously agreed to a cessation of hostilities in April but violence continued.
  
  The wider war has been stalemated since the U.S. and Israel paused their attacks on Iran in early April, with Tehran blocking most shipping through the Strait of Hormuz, the main transit route for one-fifth of the world’s oil. Washington has imposed its own blockade of Iranian ports.
  
  Amid the resulting supply crisis, OPEC+ on Sunday agreed its fourth increase in oil output in four months. But analysts said the decision would have little impact since most OPEC+ members could not meet their output targets because of the Hormuz closure or, in the case of Russia, infrastructure attacks that have eroded its production capacity.
  
  "In the current market, the physical impact of such a decision would be close to zero," Rystad Energy’s head of geopolitical analysis, Jorge Leon, said in a note to clients. Source: Reuters/Investing.com
- 2026-06-08
  Post-War Oil Trade Could Look Nothing Like It Did Before Hormuz
  Persian Gulf oil exporters are scrambling to reroute their crude from ports to pipelines to keep the world running and keep their oil money flowing and fueling their economies. Sanction waivers abound. Venezuela’s oil output has shot up to 1.25 million... Read more Persian Gulf oil exporters are scrambling to reroute their crude from ports to pipelines to keep the world running and keep their oil money flowing and fueling their economies. Sanction waivers abound. Venezuela’s oil output has shot up to 1.25 million barrels daily. The world of energy after the end of the war in the Middle East will be a very different one from what we’ve become accustomed to over the last five years.
  
  When the United States and Israel first fired on Iran, the overwhelming assumption was that first, Iran would never close the Strait of Hormuz, and two, after the closure became a fact, that it would only last for a few days, maybe a couple of weeks tops. Then, when it became abundantly clear that there is no expiry date on the Strait closure, oil exporters finally started making contingency plans.
  
  News about pipeline plans in the Persian Gulf includes the UAE, which eyes an operational pipeline to the port of Fujairah by next year, demonstrating just how urgent the alternative route is to one of the largest oil exporters in the Middle East. The UAE’s exit from OPEC highlighted the urgency as well, even though it was seen as a pivot to more energy policy independence. It was, but it can also be interpreted as a move to make sure the oil flows.
  
  For years, the UAE has been working to boost its crude oil production capacity to 5 million barrels per day by 2027. To that end, the UAE had consistently demanded that it should be allowed in the OPEC and OPEC+ production deals to use more of its growing spare capacity—and it has indeed been allowed to do so. The country, alongside Saudi Arabia, is one of the few in the region—and the world—that held spare production capacity before the Middle East war began.
  
  Saudi Arabia itself is a case in point: the kingdom has been using its East-West pipeline to bypass the Hormuz blockade, becoming an example of actual contingency planning and oil flow diversification in case of trouble in the neighborhood. Now, even Iraq is talking about boosting its pipeline capacity up to threefold—and doing it within three months.
  
  Crude oil production from Iraq’s southern fields has plunged by 70% since the start of the U.S. and Israeli war on Iran, with the average production at 1.3 million barrels per day, compared with 4.3 million bpd before the war began. This makes OPEC’s number-two perhaps the most severely affected oil producer in the Gulf, because it is almost entirely reliant on the Strait of Hormuz for its exports.
  
  “The legacy of the crisis will result in the construction of infrastructure to bypass the Strait of Hormuz,” Hamad Hussain, commodities economist at Capital Economics, told the Wall Street Journal. “The genie is out of the bottle given that the longstanding threat of Iran effectively closing the strait has now materialized.”
  
  Many observers seem to believe that even when the war ends, one way or another, the oil landscape will change for good, with exporters investing in what the Wall Street Journal described as “an export network with multiple exits”—a real-life demonstration of the principle of distributing eggs to multiple baskets. As summed up by ADNOC’s head and the UAE’s energy minister, Sultan al-Jaber, “Energy security is no longer just about your ability to continue to produce. “It is about routes, access, storage and redundancy.”
  
  Meanwhile, as warnings about a severe oil supply crunch multiply and get louder, some see relief on the horizon. Kpler, specifically, recently described a scenario in which Venezuelan, Iranian, and Russian oil all return to the market in greater volumes—which is already happening.
  
  Venezuela, Kpler reported, is already producing and exporting 1.25 million barrels daily after the United States toppled the Maduro government and lifted sanctions so American companies could return to the country. This could rise to 1.5 million barrels daily by the end of the year, with Kpler analyst Naveen Das noting that since Venezuela is producing extra-heavy, high-sulfur crude, its recovering production would be in direct competition with Iranian and Russian heavy sour barrels, pressuring prices.
  
  A forecast about weaker prices in less than a year has become an exception rather than the rule it was at the start of this year, before the war began, but it is a possibility. While there is no sign of any reconsideration of EU sanctions on Russian energy, the U.S. has issued waivers on crude and has extended these more than once, and this, per Kpler’s Das, “eliminated the psychological and compliance barriers for Asian buyers.”
  
  As for Iran, the Kpler analysts see the chances of a peace deal rise in sync with the pressure on the U.S. economy resulting from the crisis-fueled energy price inflation. Essentially, the argument appears to be that the U.S. administration would have to do something to reverse the price trends, and that something will very likely involve sanction relief on Iranian crude. Again, it is worth noting this is still a distant prospect as President Trump appears intent on staying the current course. Source: Oilprice.com
- 2026-06-08
  MABUX: Global bunker indices to shift into upward territory on June 08, supported by renewed geopolitical tensions in the Strait
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — shifted into a downward trend on Jun. 05: 380 HSFO: USD/MT: 711.38 (-14.38) VLSFO: USD/MT 869.42 (-10.16) MGO: USD/MT 1 315.49 (-10.20) Among... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — shifted into a downward trend on Jun. 05:
  
  380 HSFO: USD/MT: 711.38 (-14.38)
  VLSFO: USD/MT 869.42 (-10.16)
  MGO: USD/MT 1 315.49 (-10.20)
  
  Among the major global bunker hubs, Singapore remains the most balanced market, supported by steady demand fundamentals and sufficient supply availability. Zhoushan continues to trade at a moderate discount to Singapore, although supply conditions remain relatively tight. Fujairah remains the key outlier, where persistent supply constraints continue to support elevated bunker prices, keeping the port largely disconnected from broader market trends. Unless supply availability improves significantly, Fujairah is likely to retain its position as the world's most expensive bunker hub.
  
  As of Jun. 05, the MABUX Market Differential Index (MDI), which tracks the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP) — registered the following trends across the four major global bunkering hubs: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Rotterdam, Singapore, and Houston remained undervalued, with underpricing widening by $7, $1, and $2, respectively. Fujairah continued to be the only overvalued port in the HSFO segment, with its premium increasing by a further $5.
  
  • VLSFO segment: Rotterdam, Singapore, and Houston also remained undervalued relative to the MABUX Digital Benchmark. The discount widened by $3 in Rotterdam and by $14 in Houston, while narrowing by $4 in Singapore. Fujairah remained the sole overvalued hub, with its premium surging by an additional $95 and remaining firmly above the $100 threshold.
  
  • MGO LS segment: Fujairah continued to be the only overvalued location, with its premium increasing by $66. In contrast, Rotterdam, Singapore, and Houston remained undervalued, although the degree of underpricing narrowed by $24, $26, and $13, respectively. MDI values in both Rotterdam and Fujairah continued to exceed the $100 mark, highlighting significant deviations from the digital benchmark.
  
  The persistent overvaluation in Fujairah across all fuel grades reflects ongoing supply-side pressures, while the continued undervaluation in Rotterdam, Singapore, and Houston suggests comparatively softer pricing conditions relative to the benchmark
  
  MABUX expects Global bunker to move higher on June 08 amid renewed escalation in the Strait of Hormuz: plus 5-10 USD/MT, VLSFO: plus 5–10 USD/MT, MGO LS: plus 5–15 USD/MT. The anticipated gains reflect heightened market risk premiums following the latest escalation in the Strait of Hormuz, which has reinforced concerns over potential disruptions to regional crude and petroleum product exports.
  Source: MABUX
- 2026-06-08
  Oil Market Flying Blind as Dark Tanker Traffic Surges in Hormuz
  Tanker traffic through the Strait of Hormuz has collapsed by 90% to 95% compared to pre-war levels, analysts concur. Some oil cargoes continue to trickle through the critical chokepoint, but under increasingly opaque operating conditions, complicating... Read more Tanker traffic through the Strait of Hormuz has collapsed by 90% to 95% compared to pre-war levels, analysts concur.
  
  Some oil cargoes continue to trickle through the critical chokepoint, but under increasingly opaque operating conditions, complicating the tracking of oil and gas flows and obscuring the visibility of how much energy supply actually reaches buyers these days.
  
  Traffic appears to have ramped up in recent weeks, according to an analysis of shipping data by Reuters energy columnist Ron Bousso.
  
  More vessels are leaving the region after passing the Strait of Hormuz in a dark mode with transponders switched off, and those entering the Persian Gulf to load cargoes are increasingly doing the same.
  
  The dark-mode tactics, once the feature of Iran-linked vessels aiming to skirt sanctions, are now the norm for the majority of commercial traffic at the Strait of Hormuz.
  
  The threat to tankers attempting to pass the Strait of Hormuz has created a new shipping reality. Dark-mode activity, with transponders switched off, is no longer for Iran-linked vessels only. It has spread to commercial shipping of non-sanctioned barrels and other goods that typically move through the chokepoint, data from Vortexa showed last week. Dark transits through the Strait of Hormuz have accounted for 57% of all transits recorded over the period, peaking at 65.2% in May.
  
  “AIS-off movements through Hormuz are no longer only a sanctions-evasion signal. They have become a wider commercial response to conflict risk, operational uncertainty, and the need to keep Gulf cargo moving through one of the world’s most important energy chokepoints,” said Claire Jungman, Director of Maritime Risk &
  
  The implication for the market is that it’s now more difficult than ever to track oil shipments in real time, according to Jungman.
  
  “When clean products, LPG, and LNG also move with reduced AIS visibility, the uncertainty extends into refinery supply, product availability, regional inventories, and destination-level demand reads.”
  
  The dark transits are adding yet another layer of uncertainty in the oil market, which has seen price volatility at multi-year highs amid conflicting signals from the U.S. and Iran, and President Trump’s social media posts about how the talks are progressing, or not.
  
  Oil cargoes are leaving for Asian buyers such as Pakistan, India, China, likely using routes and corridors approved by Iran, as the Islamic Republic has strengthened its chokehold on the passage of tankers in the Strait.
  
  This was the situation as of early on Friday, June 4.
  
  It’s anyone’s guess what the situation will be in a few days’ time amid conflicting reports about the state of the U.S.-Iran negotiations.
  
  Initially, the oil market was hoping for a swift resolution to the blocked Strait of Hormuz. Back in March, many analysts were confidently assuming that the conflict would end by May and traffic through the Strait of Hormuz would begin to normalize in June.
  
  It’s June now, the war is in its fourth month, and the Strait traffic and geopolitical situation are anything but normalized.
  
  Traffic remains at a fraction of the pre-war levels, and may never return to February levels as Iran seeks to retain operational control in a potential deal with the U.S., while the chokepoint is no longer considered a secure route for global oil supply.
  
  Oil prices have remained below $100 per barrel over the past week amid hopes that a deal could be reached soon. Many traders choose to ignore warnings from analysts and from the chief executives of both Chevron and Exxon that inventories are so low that oil prices are weeks away from spiking if traffic through Hormuz remains mostly choked.
  
  “We're approaching unheard of inventory levels. I mean, really, really low levels,” Neil Chapman, Exxon’s Senior Vice President, said at the Bernstein 42nd Annual Strategic Decisions Conference last week.
  
  “I think dated Brent, most people with a model would say dated Brent will shoot up once you get to that really low inventory level, up to $150, $160 — the models would tell you that.”
  
  Chevron’s CEO Mike Wirth said on the same conference, “The buffers and the shock absorbers are being steadily drawn down and the ability for the market to absorb this imbalance is drastically diminished today versus where we started and over the next few weeks, we're likely to see those pressures flow through more directly to physical prices, and there's more upward pressure that I would expect as we get into June and certainly into July.” Source: Oilprice.com

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