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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 356.00
0.00
1 365.00
+45.00
Sep 1
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 356.00	0.00	1 365.00	+45.00	Sep 1

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
645.26	+0.98	808.25	+3.46	1 437.58	+11.32	Sep 3

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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	565	666	-101	686	751	-65	1 365	1 585	-220	Sep 3
Singapore	648	697	-49	852	854	-2	1 244	1 578	-334	Sep 3
Fujairah	643	647	-4	852	795	+57	1 448	1 641	-193	Sep 3
Houston	519	666	-147	719	785	-66	1 326	1 483	-157	Sep 3

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Digital Bunker Prices
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Analytical Section
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Latest News
- 2026-09-04
  High Oil Prices Speed Up China’s Shift Away From Crude
  China’s oil consumption fell 9% year over year in the second quarter as expensive crude accelerated the use of electric cars, trucks, rail and industrial equipment. The decline helped cut China’s carbon dioxide emissions by 1% during the quarter, according... Read more China’s oil consumption fell 9% year over year in the second quarter as expensive crude accelerated the use of electric cars, trucks, rail and industrial equipment.
  
  The decline helped cut China’s carbon dioxide emissions by 1% during the quarter, according to an analysis by the Centre for Research on Energy and Clean Air. It was the first quarterly emissions decline in China driven primarily by lower oil consumption.
  
  Power-sector emissions rose 3% during the same period as coal-fired generation increased.
  
  Electric vehicles displaced 36 million metric tons of oil during the first half of 2026, accounting for roughly one-third of the reduction in Chinese oil demand. EVs displaced 19 million tons during the second quarter alone, 50% more than a year earlier.
  
  Electric trucks produced the fastest change. Alternative-fuel use in China’s trucking sector jumped 90% year over year between January and June, reducing diesel consumption in one of the country’s largest transportation fuel markets.
  
  Oil got more expensive after the Iran war disrupted Persian Gulf supply and traffic through Hormuz. China cut crude imports and drew more heavily from inventories. At the same time, EVs and electric trucks were replacing more gasoline and diesel, giving China another way to reduce its exposure to high oil prices.
  
  Oil use also fell in construction and mining as electric equipment replaced diesel-powered machinery. Slower growth in China’s chemical sector reduced another source of petroleum demand.
  
  CREA estimates lower oil consumption prevented roughly 35 million tons of carbon dioxide emissions during the second quarter, equal to about 1.3% of China’s total emissions during the period. The calculation includes emissions associated with electricity used to charge EVs.
  
  China remains the world’s largest crude importer, giving changes in its transportation fleet consequences well beyond its emissions numbers.
  
  CREA expects Chinese emissions could fall for the full year as oil demand weakens, property activity remains subdued, and coal-to-chemicals production runs near capacity.
  
  For oil producers, the 9% decline is the number to watch. China’s enormous EV fleet was already eroding gasoline demand. $90-plus crude is now speeding up diesel displacement too.
  
  Source: Oilprice.com
- 2026-09-04
  Machado Backs U.S. Oil Partnership but Questions Venezuela Deal
  Venezuelan opposition leader María Corina Machado is backing a long-term U.S. role in developing the country’s oil reserves, even as she questions who has the authority to sign the sweeping agreement announced by acting President Delcy Rodríguez. Machado... Read more Venezuelan opposition leader María Corina Machado is backing a long-term U.S. role in developing the country’s oil reserves, even as she questions who has the authority to sign the sweeping agreement announced by acting President Delcy Rodríguez.
  
  Machado said Thursday that the scope of the agreement remains unclear, including who is signing it, who will finance it, what guarantees investors would receive and how Venezuelans would benefit.
  
  Those are fairly consequential blanks for a deal covering some 65 billion barrels of Venezuelan crude.
  
  Machado called for a “strong, mutually beneficial partnership” between Venezuela and the United States and promoted a development model built around publicly approved rules and competitive bidding. Her criticism centered on Rodríguez’s authority and the process used to negotiate the agreement.
  
  The Trump administration and Caracas announced the agreement last week. Rodríguez has described a 25-year arrangement involving 17 oilfields and a production target of 1.5 million barrels per day. The full contract has not been released publicly.
  
  Venezuela currently produces roughly 1.25 million bpd despite holding the world’s largest proven crude reserves. Much of that oil is extra-heavy Orinoco crude requiring diluent, upgraded infrastructure and extensive drilling and workovers before production can rise substantially.
  
  Years of underinvestment also left pipelines, power systems and production facilities in poor condition.
  
  Foreign oil companies have another problem to solve before writing large checks. ExxonMobil and ConocoPhillips still hold multibillion-dollar claims stemming from Venezuela’s 2007 nationalizations. ConocoPhillips alone is owed roughly $10 billion to $12 billion.
  
  Venezuela also still owes billions on defaulted bonds and nationalization claims. Any company putting new money into its oil fields will want to know where it stands in that very long line of creditors, and whether a contract signed today will still be worth anything under the next government.
  
  Machado’s position adds another layer. She wants U.S. capital and expertise in Venezuela’s oil industry and is not calling for the agreement to be abandoned. She is arguing that future development should rest on rules capable of surviving a change in government.
  
  For producers considering billions of dollars in Venezuelan fields, that distinction is hardly academic. A 25-year oil project only works if the contract lasts longer than the people who signed it. Source: Oilprice.com
- 2026-09-04
  Russia Says Oil Output Drop Is Temporary as Refineries Restart
  The dip in Russian oil production is only temporary, as output is expected to recover once refineries come back online after unscheduled maintenance, Deputy Prime Minister Alexander Novak said on Thursday. “This is a temporary phenomenon, and, generally,... Read more The dip in Russian oil production is only temporary, as output is expected to recover once refineries come back online after unscheduled maintenance, Deputy Prime Minister Alexander Novak said on Thursday.
  
  “This is a temporary phenomenon, and, generally, oil production will increase as the refineries resume operations and the situation stabilizes,” Novak said, as carried by Russian news agency TASS.
  
  Amid the ongoing fuel crisis in Russia, authorities have regularly sought to alleviate concerns and talk up the resumption of refinery operations, which have been heavily disrupted by incessant Ukrainian drone attacks.
  
  Fuel supply has improved this week, Novak said at an economic forum in Vladivostok on Thursday, as authorities seek to play down the refinery outages caused by Ukrainian drone strikes.
  
  Russia has been suffering from a gasoline and diesel crunch since the spring, when Ukraine intensified its drone attacks at Russian refineries, aiming to cripple fuel supply to the front lines and to the domestic Russian market.
  
  As a result, Russia has banned diesel exports – a ban currently enforceable until the end of September – which has further tightened global middle distillate markets.
  
  But oil production has been suffering, too, as attacks have crippled both refinery operations and export capacities with Ukrainian strikes at terminals in the Black Sea and the Baltic Sea.
  
  Following a year of tighter sanctions and Ukrainian attacks on refineries, ports, and tankers, Russia’s crude output has fallen further in the second half of 2026, severely affecting the nation’s crude production outlook, consultancy Rystad Energy said last month.
  
  In light of all these disruptions, Rystad Energy has revised its Russian crude production forecast to average 8.95 million barrels per day (bpd) in 2026, before declining to around 8.6 million bpd in 2027, down by about 90,000 bpd from the previous forecast.
  
  “The increasing frequency and effectiveness of drone attacks on Russian oil and gas infrastructure is no longer affecting only refineries; it’s constraining the country’s upstream sector as well,” said Daria Melnik, Vice President, Oil & Gas Research at Rystad Energy.
  
  “Every barrel not processed by a refinery must either be exported, placed into storage or removed from production. While Russia was able to absorb that imbalance in June, July demonstrated that its export system cannot consistently handle the additional volumes,” Melnik added. Source: Oilprice.com
- 2026-09-04
  Hormuz Disruptions Could Drag Into Next Year, Japanese Tanker Giant Warns
  Japan’s Mitsui OSK Lines, the world’s largest tanker operator, expects the shipping disruptions at the Strait of Hormuz to continue for longer than previously expected, with no normalization by the end of the year, due to this week’s re-escalation of... Read more Japan’s Mitsui OSK Lines, the world’s largest tanker operator, expects the shipping disruptions at the Strait of Hormuz to continue for longer than previously expected, with no normalization by the end of the year, due to this week’s re-escalation of hostilities.
  
  “Given the current situation, it’s difficult to see operations resuming in any form by the end of the year,” Mitsui OSK Lines’ chief executive Jotaro Tamura told Bloomberg in an interview published on Thursday.
  
  In a quarterly financial report last month, Mitsui OSK assumed that “navigation around the Strait of Hormuz will gradually resume from October 2026 and be normalized in January 2027.”
  
  However, the recent flare-up of hostilities, with the first strikes the U.S. and Iran exchanged in more than a month, has led to deterioration of the situation.
  
  “The situation continues to be well beyond the level of risk we can accept,” the executive told Bloomberg.
  
  Mitsui OSK does not currently plan to return to shipping oil through the Strait of Hormuz, due to the elevated risks, the executive told Bloomberg. The situation needs to de-escalate, and the tanker giant needs to see guarantees and evidence of sustainably safe passage through the chokepoint to consider returning to the route, Tamura added.
  
  Since the re-escalation early this week, traffic at the Strait of Hormuz has slumped to a handful of observable transits per day, although dark crossings have helped sneak more volumes out of the Persian Gulf in recent weeks.
  
  The latest flare-up, however, could discourage some shippers again. As a result, the market grows concerned that the re-escalation is putting at risk the estimated tentative recovery of oil flows from the Middle East in the past weeks.
  
  Resource-poor Japan, for its part, is preparing an energy import diversification plan that will include stipulations about support for pipelines in the Middle East aimed at diverting export oil flows away from the Strait of Hormuz. Source: Oilprice.com
- 2026-09-04
  Iraq Hikes Oil Exports via Hormuz in Boon for Asian Refiners
  OPEC’s second-largest producer, Iraq, more than doubled its crude oil exports via the Strait of Hormuz in August as it offered month-watering discounts for loadings at Basrah in the Persian Gulf and Iran allowed Iraqi oil cargoes to transit the chokepoint. Iraqi... Read more OPEC’s second-largest producer, Iraq, more than doubled its crude oil exports via the Strait of Hormuz in August as it offered month-watering discounts for loadings at Basrah in the Persian Gulf and Iran allowed Iraqi oil cargoes to transit the chokepoint.
  
  Iraqi oil exports jumped to some 2.34 million barrels per day (bpd) in August from 1.35 million bpd in July, two Iraqi energy officials told Reuters, in data consistent with estimates of vessel-tracking firms Vortexa and Kpler, who see Iraq’s oil shipments at between 2.2 million bpd and 2.3 million bpd last month.
  
  Although these volumes continue to trail the pre-war levels of over 3.5 million bpd, the increased flows would benefit those refiners in India and China that are geared to process the heavier and higher-sulfur crude from Iraq.
  
  Last month, Iranian state media reported that Tehran had granted permission to a number of oil tankers with Iraqi crude to transit the Strait of Hormuz, which has eased Baghdad’s export bottleneck.
  
  It’s not clear if all Iraqi oil tankers are allowed to move through the Strait of Hormuz by Iran. But even some batches of tankers are certainly some relief for Iraq, which has seen the worst of the Middle East crisis as its heavily oil-dependent economy was collapsing with the trickling oil revenues amid the blockage of the Strait of Hormuz.
  
  Due to the de facto closure of the Strait of Hormuz, Iraq was forced to slash its oil production as its exports from Basrah need to transit the world’s most vital oil chokepoint.
  
  The Iranian corridor out of the Gulf added to considerable discounts Iraq has offered buyers to encourage them to send tankers to pick up crude from Basrah, according to various reports and analysts.
  
  “Iraq has been giving heavy discounts ... which has incentivised buyers to find shipping options to get the cargoes out,” Sparta Commodities senior analyst June Goh told Reuters.
  
  As a result, Chinese and Indian refiners have received Basrah crude cargoes in recent weeks and have chartered tankers to lift additional volumes from Basrah in the coming weeks.
  
  China’s refiners alone are estimated to have bought at least 16 million barrels of Basrah crude for September delivery, trade sources told Reuters. Source: Oilprice.com
- 2026-09-03
  Oil prices rise on escalation in Middle East
  Oil prices rose on Thursday after U.S. strikes on Iran and renewed Israeli threats against Tehran revived concerns about disruptions to Middle East supplies. Brent crude futures were up 59 cents, or 0.62%, at $96.22 a barrel by 1327 GMT while U.S.... Read more Oil prices rose on Thursday after U.S. strikes on Iran and renewed Israeli threats against Tehran revived concerns about disruptions to Middle East supplies.
  
  Brent crude futures were up 59 cents, or 0.62%, at $96.22 a barrel by 1327 GMT while U.S. West Texas Intermediate crude futures rose 78 cents, or 0.86%, to $91.79. Both contracts were heading for their fourth day of gains and hit six-week highs earlier in the session.
  
  Iran’s health minister said 18 people were killed and 108 wounded in Tuesday night’s U.S. strikes across Iran. The Iranian Red Crescent said four people were killed and 67 wounded at a wedding ceremony near the coast of the Strait of Hormuz.
  
  Three Iranian Army pilots were killed in the U.S. strikes, the semi-official Tasnim news agency reported.
  
  The attacks were the most substantial exchange of fire between the U.S. and Iran since July. The war, which began with U.S.-Israeli strikes at the end of February, is in its seventh month.
  
  Israeli Defence Minister Israel Katz renewed warnings that Israel would "cripple" Iran’s military and civilian infrastructure, including energy facilities, if Tehran launched attacks against it.
  
  Saxo Bank analyst Ole Hansen said Katz’s comments had helped to push oil prices higher.
  
  FEWER VESSELS TRANSIT STRAIT
  
  Six commodity vessels transited the Strait of Hormuz on Wednesday, down from 11 a day earlier and well below the 10-day average of around 13, preliminary shipping data showed on Thursday.
  
  "The oil market remains tight, with oil inventories still declining globally translating into higher prices. Some support might have also come from ongoing tensions in the Middle East," said UBS energy analyst Giovanni Staunovo.
  
  Meanwhile, Iran added ships to the list of vessels it deems non-compliant and subject to fines, confiscation or detention if they try to sail through the strait.
  
  Iraqi vessels are among those Iran has allowed to pass through Hormuz.
  
  Iraq increased its oil exports to around 2.34 million barrels per day in August from about 1.35 million bpd in July, two Iraqi energy officials said on Wednesday, with September exports also expected to increase as heavy discounts and Iranian approvals for Iraqi tankers encouraged buyers.
  
  Higher oil prices and the implications for inflation led to increased bets on a Federal Reserve interest rate hike this month. [MKTS/GLOB]
  
  Source: Reuters/Investing.com
- 2026-09-03
  ‘Pink Corridor’ project to explore safety requirements of nuclear-powered transatlantic box shipping route
  Class society Lloyd’s Register (LR), A.P. Moller – Maersk (Maersk), along with the Ports of Charleston and Port of Felixstowe, have announced a partnership to establish a ‘Pink Corridor’ project that will seek to identify and address the operational,... Read more
- 2026-09-03
  Lloyd’s Register and MARIC unveil tri-fuel-ready tanker concept
  Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia. In... Read more
- 2026-09-03
  TFG Marine installs ISO-certified mass flow meters on two US Gulf bunker barges
  TFG Marine has fitted ISO 22192-certified mass flow meters (MFMs) on two US Gulf bunker barges. According to a statement posted on LinkedIn this week, the Buffalo B414 and Buffalo B304 supply barges received their ISO certification last month. TFG... Read more
- 2026-09-03
  Oiltraining’s Visser joins IBIA as new Training & Technical Advisor
  IBIA – the International Bunker Industry Association has announced the appointment of Ton Visser as its new Training & Technical Advisor. In a statement issued today (3 September), IBIA highlighted Visser’s experience from across the oil, gas, chemical... Read more

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