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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 442.00
0.00
1 350.00
+20.00
Oct 6
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 442.00	0.00	1 350.00	+20.00	Oct 6

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
708.14	+5.11	846.43	+4.53	1 495.00	-0.77	Oct 7

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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	625	696	-71	692	791	-99	1 350	1 485	-135	Oct 7
Singapore	785	733	+52	901	901	0	1 262	1 478	-216	Oct 7
Fujairah	697	681	+16	975	838	+137	1 655	1 541	+114	Oct 7
Houston	551	658	-107	755	775	-20	1 401	1 451	-50	Oct 7

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Latest News
- 2026-10-07
  Oil prices rise amid concerns over Mideast, U.S. supply disruptions
  Oil prices climbed on Wednesday, as investors assessed potential disruptions to crude flows out of the Middle East and the United States. Get more oil market insights with InvestingPro By 08:55 ET (12:55 GMT), benchmark Brent crude futures had risen... Read more Oil prices climbed on Wednesday, as investors assessed potential disruptions to crude flows out of the Middle East and the United States.
  
  Get more oil market insights with InvestingPro
  By 08:55 ET (12:55 GMT), benchmark Brent crude futures had risen by 0.9% to $101.50 a barrel, while U.S. West Texas Intermediate crude futures had ticked up by 0.4% to $89.80 a barrel.
  
  In the previous session, oil prices initially dropped towards $97 a barrel, reflecting data showing that Gulf oil exporters managed to surpass pre-war levels for roughly half of September. The figures, along with a pledge last week by Group of Seven countries to release emergency energy reserves and reopened operations at Saudi Arabia’s East-West pipeline, buoyed hopes for a recovery in Middle East oil supplies.
  
  Yet that fall was short-lived, with Brent eventually once again climbing back above $100, as caution took hold on news of increased Iranian strikes against tankers passing through the Strait of Hormuz, analysts at Deutsche Bank said. Iranian state media also reported that a blast was heard off Qeshm island near Hormuz, exacerbating fears of disruptions to tanker traffic through the vital waterway, which has been effectively closed off since shortly after a joint U.S.-Israeli assault on Iran in late February.
  
  Fighting has also intensified between Saudi-aligned coalition forces in Yemen and Iran-backed Houthi militants. Government forces and Riyadh have stepped up air attacks to retake Houthi-controlled territory, including areas near the Bab el-Mandeb Strait, another critical chokepoint for Gulf oil shipments.
  
  "There is a clear tug-of-war at the moment between improving supply from the region and lingering threats to supply. Clearly, it’s looking as though the only way to see prices trade sustainably lower is for lingering risks to be addressed," analysts at ING said in a note.
  
  "For now, the market is likely to remain nervous to any potential supply disruptions."
  
  A potentially major storm heading towards U.S. oil-producing regions added to worries around constrained global supplies. Forecasters have said the storm may become the first Atlantic hurricane of 2026 within two days and could barrel into areas that produce 15% of U.S. crude and 5% of the country natural gas, Reuters reported.
  
  Elsewhere, U.S. oil inventories fell 2.09 million barrels in the week to October 2, data from the American Petroleum Institute showed on Tuesday.
  
  The API data usually heralds a similar trend from official U.S. inventory data, which is due later on Wednesday. Source: Investing.com
- 2026-10-07
  SFL Corporation to build two Very Large Ammonia Carriers
  SFL Corporation has announced that it will build two 93,000 cubic metre (cbm) Very Large Ammonia Carriers, capable of carrying a wide range of petrochemical gases. Ole B. Hjertaker, CEO of SFL Management AS, confirmed to ship.energy today (6 October)... Read more
- 2026-10-07
  DNV appoints new Head of its Miami Cruise Center
  Océane King has returned to DNV after seven years at Royal Caribbean Group to head up the classification society’s Miami Cruise Center. In a statement issued yesterday (6 October), DNV said that in her new role King will work with cruise customers... Read more
- 2026-10-07
  Bill looking to strengthen MPA’s powers introduced in Singapore Parliament
  A new Bill which aims to strengthen the Maritime and Port Authority of Singapore’s (MPA) regulatory framework and its powers over licensees received its first reading in the Singapore Parliament yesterday (6 October). In a statement issued yesterday,... Read more
- 2026-10-07
  LLI adds AIS spoofing detection capability to its Seasearcher platform
  Lloyd’s List Intelligence (LLI) says that the new Satellite Confirmed Spoofing capability that it has launched on its Seasearcher platform combines AIS spoofing detection with automatic satellite imagery validation to identify deceptive vessel behaviour. In... Read more
- 2026-10-07
  Wärtsilä signs service agreement for new TMS Cardiff Gas dual fuel carriers
  Technology group Wärtsilä has signed a five-year service agreement with Greece-based operator TMS Cardiff Gas for the recently delivered dual fuel 174,000-cubic metre (cbm) LNG carriers, Al Thurayya and Al Majhoulah. The order was booked by Wärtsilä... Read more
- 2026-10-07
  Oil prices rise as storms and air strikes threaten supply
  Oil prices rose on Wednesday as the market weighed supply constraints from a storm heading for US oil-producing regions and attacks by Yemen’s Iran-backed Houthis on Saudi Arabia against increased supplies of Middle East crude. Brent futures rose... Read more Oil prices rose on Wednesday as the market weighed supply constraints from a storm heading for US oil-producing regions and attacks by Yemen’s Iran-backed Houthis on Saudi Arabia against increased supplies of Middle East crude.
  
  Brent futures rose 93 cents, or 0.92%, to $101.51 a barrel by 0022 GMT. US West Texas Intermediate (WTI) crude rose 82 cents, or 0.92%, to $90.25.
  
  US forecasters said on Tuesday a storm forming in the Gulf of Mexico would become the first Atlantic hurricane of 2026 within two days and would likely hit oil and gas producing facilities.
  
  The offshore areas in the Gulf in the storm’s path produce 15% of US crude oil and 5% of the country’s natural gas.
  
  KCM Trade chief analyst Tim Waterer said the storm was an “unwelcome complication for crude, raising the prospect of production and refining disruptions at a time when the market already has enough supply-side headaches”.
  
  The storm could affect six refineries.
  
  Refineries in US Gulf states account for about 50% of the national capacity of 18.2 million barrels per day (bpd).
  
  US crude oil and gasoline inventories fell, while distillate stocks rose marginally last week, market sources said on Tuesday, citing data from the American Petroleum Institute.
  
  Crude stocks fell by 2.09 million barrels in the week ended October 2.
  
  Supply had been rising as the East-West pipeline hit 5.8 million barrels a day, according to Saudi Energy Minister Prince Abdulaziz bin Salman on Tuesday.
  
  Around 12 million barrels per day of crude oil and 2 million bpd of refined products were leaving the Middle East on tankers in the last 7 to 10 days, the head of Vitol said.
  
  However, Saudi Arabia’s airports in Jazan and Najran were targeted in two attacks on Monday evening, the Saudi aviation authority said, as hostilities between the kingdom and Yemen’s Iran-backed Houthis escalated.
  
  The attacks occurred as Saudi-backed Yemeni government forces pressed a major offensive to retake territory from the Houthis, after weeks of rebel advances, with Riyadh stepping up airstrikes in support of the campaign.
  
  Attacks and refinery outages are “likely to keep the cracks elevated and scarcity will transmit to crude. Prices will stay elevated near a $100 level without any material de-escalation emerging,” said Mukesh Sahdev, chief oil analyst at X Analysts in Sydney.
  
  US-Iran relations are no closer to repair with US President Donald Trump saying on Tuesday that nobody knew who was running Iran during the eight-month US-Israeli war with Iran.
  
  "Their leaders are gone, their second group of leaders are gone, and the biggest problem I have is nobody knows who the hell is running the country," Trump said.
  
  Iran’s foreign ministry spokesman said on Sunday Washington knows very well who their counterpart is in Iran and how the decision-making system in Iran works.
  
  Source: Reuters/Investing.com
- 2026-10-07
  Why $100 Oil Is Hard to Kill
  Brent Crude oil prices have held above $100 per barrel for most of the past month despite numerous reports and figures put out in recent weeks by tanker-tracking services and investment banks that crude oil flows from the Strait of Hormuz have recovered,... Read more Brent Crude oil prices have held above $100 per barrel for most of the past month despite numerous reports and figures put out in recent weeks by tanker-tracking services and investment banks that crude oil flows from the Strait of Hormuz have recovered, and even exceeded, pre-war levels.
  
  But if so much crude is leaving the Middle East again, why do Brent prices continue to hover around the $100 a barrel mark, up from $60 before the war?
  
  The Perfect Storm
  
  Because crude oil flows returning to pre-war levels does not mean that the market has returned to normal. Far from it. The price of getting the oil out of the Middle East is astronomically high, with freight rates at record highs. War risk premiums have jumped as tankers continue to be attacked in the Strait of Hormuz. Gulf producers have found workarounds to crude flows with alternative routes, which are less efficient, cost buyers more, and take additional weeks to bring crude supply to refiners.
  
  Refiners, for their part, are scrambling to keep processing rates high to seize the record-high refining margins and produce more diesel, which remains the most stressed barrel of oil.
  
  Fuel exports from the Middle East are still limited, Russia’s are non-existent because of Moscow’s ban on diesel shipments, and China is once again protecting domestic supply and curbing fuel flows overseas.
  
  In addition, global inventories have crashed this year as the immediate relief to peak Strait of Hormuz disruptions in April and May was to draw down from crude and fuel stocks. Inventories, therefore, are so thin that they may not be able to offset another escalation in the U.S.-Iran war.
  
  These are only the operational issues the global markets face ahead of the winter diesel peak demand season.
  
  The geopolitical situation is the biggest unknown for oil prices going forward, and it doesn’t look like the war is ending soon. Instead, the market fears fresh escalations either before or after the U.S. midterm elections in early November, which could threaten the recovery of oil flows from the Strait of Hormuz.
  Related: Gulf Storm Threat Could Put 3 Million Bpd of Refining Capacity at Risk
  
  With markets depleted of sizeable cushions to absorb new shocks, crude oil prices continue to price in an elevated war risk premium, keeping Brent above $100 per barrel since early September.
  
  “A sustained move lower in Brent requires broader normalisation: improving crude supply, recovering product exports and reduced political and financial risks to shipping,” Ole Hansen, Head of Commodity Strategy at Saxo Bank, said last week, commenting on the prospect of stocks release.
  
  The G7 group on Friday announced the release of 100 million of crude oil and diesel stocks. After an initial knee-jerk reaction lower, Brent remains at above $100 per barrel in Asian trade on Tuesday.
  
  The effect of the release announcement on oil prices seems to have faded, also because the market is not really certain how many of the 100 million barrels would be really “new”, or if they are the remainder of the IEA’s pledge to release 425 million barrels months ago, part of which were never actually released, Bjarne Schieldrop, chief analyst commodities at SEB Bank, said on Monday.
  
  The analyst also noted that while the Brent front-month futures price is about $100 per barrel, the price of North Sea’s Oseberg and Fortis crudes is actually about $140 a barrel.
  
  The Upside Risks
  
  Key unknowns are keeping the front-month Brent futures at $100, according to SEB.
  
  “Will Iran initiate fresh attacks before the US midterm elections? Will the US attack Iran after the elections? Will the US be able to keep the SoH close to open at 17.5 mb/d? Will the Houthis re-attack the Saudi east-west pipeline and ships trying to traverse the Bab-el Mandeb Strait as the Saudi-backed Yemen government tries to retake areas along the Red Sea recently taken by the Houthis?,” Schieldrop says, also asking, “How far will this have to go before China finally decides to step in as a peacemaker in ME negotiations?”
  
  Despite claims of return to pre-war levels of Middle East crude oil exports, the risk to oil prices is currently tilted to the upside amid the potential of escalation, record-high freight and war premium tanker rates, very low global inventory, and the diesel crisis compounded by the lack of exports from the Middle East and Russia.
  
  “The market is pricing not only how much crude is being loaded, but also whether these barrels can be delivered safely, reliably, and at low cost,” Xuyi Zhao, senior oil analyst at Guotai Junan Futures, told Bloomberg.
  
  The higher cost of getting crude to refiners and low inventories unable to offset another near-term disruption set the stage for a new price spike if another crude supply route in the Middle East is attacked, as was the case with Saudi Arabia’s East-West pipeline to the Red Sea last month.
  
  Saudi Aramco’s CEO Amin Nasser said earlier this week, “With precious little else the world can turn to, the supply resilience cushion is scarily thin.”
  
  “Emergency reserves might buy us a winter. They cannot fix long-term supply,” Nasser said at the 2026 Energy Intelligence Forum in London on Monday.
  
  “Until Hormuz fully re-opens and confidence returns, the crude reality is that pressure at both ends of the barrel will intensify.” Source: Oilprice.com
- 2026-10-07
  MABUX: Global bunker market to rise slightly on Oct. 07 amid supply disruptions in the Middle East.
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – continued its downward trend on Oct. 06 for the second consecutive session: 380 HSFO: USD/MT: 701.08 (-8.31) VLSFO: USD/MT: 701.08 (-8.31) MGO:... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – continued its downward trend on Oct. 06 for the second consecutive session:
  
  380 HSFO: USD/MT: 701.08 (-8.31)
  VLSFO: USD/MT: 701.08 (-8.31)
  MGO: USD/MT: 1 495.77 (-22.22)
  
  As of Oct. 06, the MABUX Market Differential Index (MDI), which monitors the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP), indicated the following trends across the four major global bunkering hubs—Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Fujairah moved into the overcharge zone, becoming the only overvalued port in this fuel segment, with its MDI premium widening by $30. Singapore, meanwhile, returned to the undercharge zone, joining Rotterdam and Houston. MDI discounts narrowed by $15 in Rotterdam, $22 in Singapore and $9 in Houston. Rotterdam’s undervaluation fell below the $100 mark, while Houston’s continued to exceed it.
  
  • VLSFO segment: Fujairah was the only overvalued port, with its MDI premium widening by another $34 and moving above the $100 mark. The other three hubs were underpriced. MDI discounts narrowed by $14 in Rotterdam, $22 in Singapore and $25 in Houston. Rotterdam’s undervaluation continued to exceed $100.
  
  • MGO LS segment: Fujairah was the only overpriced port, although its MDI premium narrowed by $24. The other three hubs were underpriced. MDI discounts widened by $44 in Rotterdam, $49 in Singapore and $2 in Houston. Undervaluation in Rotterdam and Singapore continued to exceed the $100 mark.
  
  MABUX expects the Global bunker market to rise slightly on Oct. 07 amid supply disruptions in the Middle East:
  380 HSFO: plus 1-6 USD/MT, VLSFO: plus 3-8 USD/MT, MGO LS: plus 1–5 USD/MT.
  Source: MABUX
- 2026-10-07
  The Hidden Cost of Saudi Arabia’s Oil Export Recovery
  Brent holds near $100 as recovering Gulf oil flows collide with record freight costs and mounting tanker risks. Asia’s Product Market Loses Its Chinese Safety Valve - China has been at the forefront of this month’s refined product rally after the... Read more Brent holds near $100 as recovering Gulf oil flows collide with record freight costs and mounting tanker risks.
  
  Asia’s Product Market Loses Its Chinese Safety Valve
  
  - China has been at the forefront of this month’s refined product rally after the country’s Ministry of Commerce stopped issuing licenses for refined product exports, prompting several state-owned firms to cancel October-loading cargoes.
  
  - With Chinese product exports initially expected to average 750,000 b/d this month, Beijing’s (temporary) export ban has sent Singapore product cracks spiraling as most import-dependent Asian nations started to scramble for any available volumes.
  
  - The umpteenth market panic of 2026 has sent prompt-month forward spreads to the moon – on October 1 alone, jet fuel spreads doubled, diesel spreads rose by 70%, and gasoline spreads rose by 25%.
  
  - Beijing seeks to protect its domestic market as diesel inventories fell to their lowest since 2015, Shandong refinery run rates are falling amidst dissipating Iranian flows, whilst seasonal demand is on the rise at the height of the harvest season.
  
  - Chinese clean product exports reached an all-time high of 1.1 million b/d in September, with Singapore, Malaysia and Australia being the three largest market outlets.
  
  Market Movers
  
  - Canadian upstream giant Cenovus Energy (TSO:CVE) announced its purchase of Athabasca Oil (TSO:ATH) in a $4 billion cash-and-stock deal, boosting its output by 45,000 boe/d less than a year after its $6 billion takeover of MEG Energy.
  
  - US midstream giant Energy Transfer (NYSE:ET) has agreed to buy Vaquero Midstream for $2.6 billion, adding 300 miles of West Texas pipelines and 675 MMCf/d processing capacity in its portfolio.
  
  - Brazil’s state oil firm Petrobras (NYSE:PBR) signed a 22-year term LNG supply deal for 0.8 mtpa with US LNG developer Cheniere (NYSE:LNG), with first deliveries potentially starting as early as 2028.
  
  - Canada’s Suncor Energy (TSO:SU) has agreed to sell its interests in three offshore oil assets to UK-based Ithaca Energy (LON:ITH) for $850 million in upfront cash, with the transaction expected to close in early 2027.
  
  - US LNG developer New Fortress Energy (NASDAQ:NFE) saw its shares plunge 14% this week to an all-time low after its Fast LNG facility was taken offline following a mechanical issue with its gas turbine, denting LNG supply to Puerto Rico.
  
  Tuesday, October 06, 2026
  
  Last week’s 100-million-barrel G7 stock release led to a very minor downward price correction, with ICE Brent still lingering around the $100 per barrel mark. A surge in Saudi crude exports has prompted a recovery in Gulf flows, with data tracking firms pegging current flows at around 80% of pre-war levels. That said, Riyadh’s push to maximize exports has come at the expense of unprecedented drone attacks, with tanker companies increasingly preferring to keep quiet about damage incurred, preferring to keep a low profile.
  
  Saudi Arabia Cuts Asian Oil Prices Amidst Soaring Freight. Saudi national oil firm Saudi Aramco (TADAWUL:2222) set November formula prices of its benchmark Arab Light at a $5-per-barrel discount to Oman-Dubai, its widest since 2020, while raising NW European prices by $3 per barrel.
  
  Iran Changes Oil Leadership as Exports Dry Up. Iran’s oil Minister Mohsen Paknejad resigned for personal reasons after two years in office, with the chief of the national oil company NIOC Hamid Bovard appointed in his stead as Tehran faces mounting economic pressure amidst flatlining exports.
  
  Trump Turns to Tax Relief as Diesel Costs Bite. US President Donald Trump signed an executive order to temporarily allow red-dyed diesel (normally not allowed in road vehicles) to be used widely, easing costs for trucking and agriculture without increasing supply ahead of the mid-term elections.
  
  OPEC+ Freezes Targets with Hormuz Still Shut. OPEC+ rolled over its November production quotas, as the remaining seven members were still pumping around 5 million b/d below pre-war levels in August, simultaneously delaying its 2027 capacity review as the US-Iran conflict hampers recovery.
  
  The Caribbean’s Refining Gem Eyes Return. St. Croix’s idled Isla refinery - built 60 years ago by Hess and subsequently run as a JV with Venezuela’s PDVSA until its 2012 mothballing - targets a phased 2027 restart, backed by US government interest amidst soaring refined product cracks.
  
  Tariff Rush Boosts Canada’s US Trade Surplus. Canada’s exports to the US posted the largest positive monthly swing ever recorded, up 8.1% in August, widening the bilateral surplus to $8 billion as importers accelerated shipments before new 50% tariffs, applied to $20 billion of Canadian goods.
  
  Saudi Arabia Vaunts East-West Flows. Saudi Arabia’s energy minister Abdulaziz bin Salman claimed that flows through the East-West pipeline reached 5.8 million b/d, more than 80% of nameplate capacity, after repairing three pumping stations damaged by Houthi drone strikes last month.
  
  Russia Revisits Wider Arctic Offshore Access. The Russian government proposes opening up Arctic exploration licences beyond state-controlled oil firms, including international investors, seeking to unlock $800 billion boe of reserves as an $80 per barrel breakeven cost no longer seems unviable.
  
  SpaceX Seeks Florida Gas Pipeline for Space Fuel. Elon Musk’s aerospace company SpaceX seeks Florida regulatory approval for a 32-mile, 16-inch natural gas pipeline linking existing infrastructure to Cape Canaveral, seeking dedicated gas supply for its methane-fuelled Starship launches.
  
  India Scrambles for Power Amidst Shortages. Several Indian states are seeking additional power allocations from the federal government as the country’s power shortages surged to 560 kWh in September, the highest in three years, amidst weak hydropower generation and plant maintenance.
  
  Damascus Targets a Post-War Drilling Revival. The Syrian government plans to double crude production from 130,000 b/d to 250,000 b/d by end-2027 through new drilling and international partnerships, rebuilding an industry that produced almost 400,000 b/d before the 2011 civil war.
  
  Hormuz Attacks Accelerate as Tehran Ups the Ante. Iranian drone strikes have targeted at least eight oil tankers and an LPG carrier this month to date, with four separate UKMTO attack warnings on Tuesday alone, forcing maritime authorities to keep their highest “severe” threat assessment.
  
  Saudi Aramco Eyes More Oil Egress Capacity. Saudi Arabia’s national oil company Saudi Aramco stated that it is considering a 4th and 5th alternative export corridor after, including one through Oman the closure of the Strait of Hormuz and Houthi attacks exposed its midstream vulnerabilities.
  
  Buoyed By Africa’s Rise, Liberia Mulls New Licensing Round. The West African nation of Liberia will launch its 2026 offshore licensing round this month, putting 29 offshore blocks on offer as it seeks to capitalize on rising upstream interest after recent discoveries in neighboring Côte d’Ivoire.
  
  UK Diesel Hits Record High Despite Tax Relief. Diesel prices in Great Britain have soared to their highest on government records, with pump prices up 40% year-over-year to 199.52p per litre, the equivalent of $10 per gallon, even as EU retail prices started to dip after planned G7 stock releases. Source: Oilprice.com

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