Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
652.29
-4.08
720.00
+2.00
Jul 25
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	652.29	-4.08	720.00	+2.00	Jul 25

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
541.75	+0.75	641.71	-0.39	828.02	+0.39	Jul 26

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MBP INDEX vs DBP INDEX (ICE/NYMEX)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	Diff	MBP Index	DBP Index	Diff	MBP Index	DBP Index	Diff	Date
Rotterdam	503	521	-18	565	618	-53	720	828	-108	Jul 26
Singapore	502	536	-34	610	626	-16	717	837	-120	Jul 26
Fujairah	497	546	-49	608	622	-14	828	885	-57	Jul 26
Houston	474	512	-38	581	640	-59	745	753	-8	Jul 26

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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
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MABUX for Industry
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- MABUX Open Bunker Directory features contact details of bunker suppliers, traders and brokers worldwide.
Latest News
- 2024-07-26
  ASIA PACIFIC: TYPHOON GAEMI DISRUPTS PORT OPERATIONS AND SHIPPING ACROSS SOUTHEAST ASIA
  Typhoon Gaemi has wreaked havoc on port operations and shipping across Southeast Asia after lashing Taiwan, the Philippines, and China's Fujian province. In China, the typhoon has impacted nearly 630,000 people in Fujian province alone, with almost... Read more
- 2024-07-26
  GLOBAL: Methanol industry milestone with delivery of quantified emissions digital tokens
  Methanol producer Proman and its marketing arm Valenz have announced the delivery of the first Quantified Emissions Tokens (QETs) to speciality chemicals company Evonik, thereby providing ‘an immutable digital record’ of the attributes of the 1,000 metric... Read more
- 2024-07-26
  Rystad: OPEC's Oil Reserves are Much Lower Than Officially Reported
  Rystad: global recoverable oil reserves held largely steady at around 1,500 billion barrels. The largest downward revisions are seen in Saudi Arabia, where development priorities have shifted from offshore capacity expansions to onshore infill drilling. Rystad... Read more Rystad: global recoverable oil reserves held largely steady at around 1,500 billion barrels.
  
  The largest downward revisions are seen in Saudi Arabia, where development priorities have shifted from offshore capacity expansions to onshore infill drilling.
  
  Rystad puts OPEC oil reserves well below its officially reported oil reserves of 1,125 billion barrels.
  
  ystad Energy’s latest research shows global recoverable oil reserves held largely steady at around 1,500 billion barrels, down some 52 billion barrels from our 2023 analysis. Of this year-over-year decrease, 30 billion barrels are due to one year of production, and 22 billion barrels are mostly due to downward adjustments of contingent resources in discoveries.
  
  The largest downward revisions are seen in Saudi Arabia, where development priorities have shifted from offshore capacity expansions to onshore infill drilling. The only country with any significant increase in 2024 is Argentina, with a gain of 4 billion barrels thanks to the derisking of shale projects in the Vaca Muerta formation.
  This total recoverable oil resource of 1,500 billion barrels gives an upper limit of how much oil can be produced over the next 100 years or more. Of course, this upper limit is only realistic and economical if oil demand is not impacted by the energy transition, meaning oil prices would rise far above $100 per barrel. In this theoretical “high case,” total oil production would peak around 2035 at 120 million barrels per day (bpd), then decline steeply to 85 million bpd in 2050.
  
  Our estimates of total recoverable oil resources have fallen by 700 billion barrels since 2019 due to reduced exploration activities. Exploration has fallen as investors fear new discoveries will remain stranded due to the ongoing electrification of vehicles and the expected slump in both oil demand and crude prices.
  
  “The world’s remaining oil reserves are insufficient to support oil demand if there is no transition to electric vehicles. Attempts to limit the supply of oil will have hardly any effect on limiting global warming. Instead, the only feasible way of keeping global temperatures rising less than 2.0 degrees Celsius is to ensure fast electrification of road transportation,” says Per Magnus Nysveen, Head of Analysis at Rystad Energy.
  
  Source: Oilprice.com
- 2024-07-26
  Exclusive-Mexico seeks more 2025 fuel import deals after refinery delays
  Mexico is seeking to import more motor fuel for next year than it had previously planned, to compensate for delays in the startup of its new Olmeca refinery, half a dozen traders said, marking an about-turn by state energy company Pemex. The purchases... Read more Mexico is seeking to import more motor fuel for next year than it had previously planned, to compensate for delays in the startup of its new Olmeca refinery, half a dozen traders said, marking an about-turn by state energy company Pemex.
  
  The purchases for next year signal that the refinery would not be ready any time soon, a damper on the legacy of outgoing President Andres Manuel Lopez Obrador, who commissioned it after he was elected in 2018 to wean the country off expensive imports.
  
  Pemex, the most indebted among peers worldwide, is a major crude producer but relies heavily on gasoline and diesel imports because its six ageing refineries struggle to process its heavy Maya crude, producing instead record amounts of fuel oil.
  
  Earlier this year, Pemex had indicated to suppliers that it planned to significantly cut imports of both fuels because the 340,000-barrel-per-day (bpd) refinery would finally work at capacity, the market sources said.
  
  Reuters, however, revealed last month that the refinery is unlikely to produce any commercially viable fuels from crude before the end of the year as engineers were still working on key parts more than two years after it was inaugurated.
  
  The Paris-based International Energy Agency was also skeptical. In its June report, it wrote that the refinery was unlikely to come online any sooner than the fourth quarter of next year.
  
  Reuters was unable to determine by how much Pemex had earlier planned to cut imports for next year. Pemex did not respond to a request for comment.
  
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  However, Mexico is now back in the market for deals that would guarantee fuel supplies through the rest of this year and next, and has made inquiries in the U.S. and across Asia, the traders said.
  
  Pemex traders are seeking similar volumes to those they previously imported, a trader at a large commodity house said. That was confirmed by another U.S.-based trader working for a large refiner in Latin America.
  
  They have also made inquiries with Chinese refiners in the past two weeks, but no deals have been made yet, two Asian traders said.
  
  New deals for 2025 supplies would contradict what Pemex CEO Octavio Romero said earlier this month - that Mexico would drastically lower imports of fuels in the coming months.
  
  The Olmeca refinery would start up in next days, he said then. New coking units in the Tula and Salina Cruz refineries will also boost output to above national demand and Pemex would have a surplus, he added.
  
  In the first five months of the year, Pemex produced 306,547 bpd of gasoline and 181,565 bpd of diesel in its six domestic refineries, official data showed. It imported 358,545 bpd of gasoline and 128,215 bpd of diesel.
  
  SPOT PURCHASES AMID DELAY
  
  Without the new refinery working at capacity, low imports could cause a fuel shortage next year that would be an embarrassment to the government and incoming President Claudia Sheinbaum, three Mexican traders said.
  
  Pemex and the government have pushed back the startup date of the refinery, whose cost has more than doubled to roughly $17 billion, at least a dozen times over the past years.
  
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  Mexico typically imports most of its fuels from the U.S. as shipping from Asia takes longer and is more expensive, though variations in prices in Asia can make the arbitrage economical.
  
  Pemex bought at least three spot cargoes for early August-loading gasoline cargoes of around 300,000 barrels each in the past week from Asia – likely from China and Singapore – as arbitrage economics were lucrative, the traders added.
  
  However, to ship cargoes from northeast or southeast Asia to Mexico on a contractual term basis would be more challenging as it means the arbitrage must be profitable throughout the period.
  
  Which stock should you buy in your very next trade?
  With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
  
  In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
  
  With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies. Source: Reuters
- 2024-07-26
  Oil set for third weekly decline, pressured by Gaza ceasefire hopes
  Oil prices were little changed on Friday but on track for a third consecutive weekly decline, pressured by muted demand in China and expectations of a Gaza ceasefire deal that could ease Middle East tensions and accompanying supply concerns. Brent... Read more Oil prices were little changed on Friday but on track for a third consecutive weekly decline, pressured by muted demand in China and expectations of a Gaza ceasefire deal that could ease Middle East tensions and accompanying supply concerns.
  
  Brent crude futures for September dipped 1 cent to $82.36 a barrel by 0744 GMT. U.S. West Texas Intermediate crude for September fell 6 cents to $78.22.
  
  The benchmarks have lost about 5% in the past three weeks. Brent is trading marginally lower this week while WTI is down more than 2%.
  
  Chinese data this week showed the country's apparent oil demand fell 8.1% to 13.66 million barrels per day (bpd) in June, prompting concerns over consumption, ANZ Research analysts said.
  
  "The weakness is likely driven by gasoline and diesel, as rising new energy and autonomous driving vehicles become more popular," ANZ said.
  
  In the Middle East, hopes of a ceasefire in Gaza have been gaining momentum. The leaders of Australia, New Zealand and Canada called for an immediate ceasefire in a joint statement on Friday.
  
  U.S. Vice President Kamala Harris, meanwhile, has pressed Israeli Prime Minister Benjamin Netanyahu to help efforts at reaching a ceasefire deal, striking a tougher tone than President Joe Biden.
  
  A ceasefire has been the subject of negotiations for months, but U.S. officials believe the parties are closer than ever to an agreement for a six-week ceasefire in exchange for the release by Hamas of women, sick, elderly and wounded hostages.
  
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  Oil price declines were capped, however, by threats to production from Canadian wildfires, a large U.S. crude stocks draw and continued hopes of a September cut to U.S. interest rates after strong economic data, said PVM oil analyst Tamas Varga.
  
  Which stock should you buy in your very next trade?
  With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
  
  In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
  
  With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.
  
  Source: investing.com; Reuters
- 2024-07-26
  U.S. Refiners Q2 Results Expected to Dull on Dampening Demand
  U.S. refiners are set to report a significant downturn in Q2 2024 earnings from a year ago. Refining cracks weakened through the second quarter. Exxon, Shell and BP have all issued warnings about softening margins, which, in turn, will make it more... Read more U.S. refiners are set to report a significant downturn in Q2 2024 earnings from a year ago.
  
  Refining cracks weakened through the second quarter.
  
  Exxon, Shell and BP have all issued warnings about softening margins, which, in turn, will make it more challenging to finance buybacks and dividends.
  
  U.S. oil refiners are expected to report a significant downturn in Q2 2024 earnings from a year ago, largely thanks to a tepid summer driving season that has taken a bite out of margins for refiners, Reuters reported on Wednesday.
  
  Markets had been banking on an uptick in processing capacity for the second-quarter after fuel demand rose; however, that was counterbalanced by new refineries coming on line in the Middle East, more China exports and steadily increasing diesel stockpiles, analysts told Reuters.
  "Refining cracks weakened through the second quarter. It caught investors off guard," Reuters cited TD Cowen analyst Jason Gabelman as saying. 3-2-1 crack spread averaged $24/bbl in June, down from $31/bbl in March, but in-line with the average for the 10 years before the pandemic.
  
  Q2 earnings are expected to decline across the board. Exxon, Shell and BP have all issued warnings about softening margins, which, in turn, will make it more challenging to finance buybacks and dividends. According to Bloomberg, Big Oil is now starting to push pause on low-carbon projects and taking on increased levels of debt to fund buybacks and new oil and gas output.
  
  Marathon Petroleum (NYSE:MPC), the largest U.S. refiner by volume, is expected to report Q2 EPS of $3.22 compared with $5.32 a year ago, according to LSEG estimates cited by Reuters. Valero Energy (NYSE:VLO), the second-largest by capacity, is set to report EPS of $2.60 per share, down from $5.40 a year ago. A similar situation is in store for Phillips 66 (NYSE:PSX), which is set to report earnings of $1.98 per share, compared with $3.87 a year ago.
  
  The full-year outlook is not much better, and with the end of the summer driving season, refining margins are set to further slump. Source: oilprice.com
- 2024-07-26
  What Would the Re-Election of Trump Mean for U.S. Energy?
  Trump's energy policies would likely prioritize increased oil and gas production, potentially reversing some of Biden's climate progress. The future of renewable energy investments and electric vehicle adoption could be uncertain under a Trump administration. Trump's... Read more Trump's energy policies would likely prioritize increased oil and gas production, potentially reversing some of Biden's climate progress.
  
  The future of renewable energy investments and electric vehicle adoption could be uncertain under a Trump administration.
  
  Trump's stance on climate change and his potential withdrawal from the Paris Agreement could have significant global implications.
  
  With Donald Trump back in the presidential race, many are wondering what his winning would mean for the U.S. energy sector following three yeas of strong climate policies and restrictions on new oil and gas development. Would Trump pursue greater oil and gas investment in the coming years, or would he continue the path President Biden is forging for a green transition?
  
  During his term in government, Trump continually voiced his aims for greater energy independence. This meant approving widespread oil and gas production, aimed at enhancing U.S. energy security, to decrease foreign energy imports. By Trump’s last year in office, oil imports fell to 7.9 million bpd, compared to 10 million bpd under President Obama in 2016. While this shows a significant fall in the quantity of oil imports, the U.S. never reached full energy independence, as is so often claimed by the Republican party.
  The Biden administration has often been accused of moving away from the pursuit of energy independence by imposing restrictions on new oil and gas drilling. However, in response to the growing global demand for crude following the Covid-19 pandemic, U.S. oil production during Biden’s first year was higher than during either of Trump’s first two years in office. Experts suggest that is it economic factors and pressure from Wall Street that have deterred U.S. oil firms from significantly increasing production, which would likely be the same under another Trump government. While Trump would likely make oil leases more accessible, this would affect long-term oil production rather than immediate output.
  
  During his previous term in office, Trump took the U.S. out of the Paris Climate Agreement, stating that it undermined the economic ambitions of the country. Going forward, the public wants to know if Trump would continue his strong backing for oil and gas and whether he would support the development of the diversified energy mix that is currently emerging in the U.S. Republican policy experts and Trump’s campaign website suggest that, if elected, Trump would likely dismantle a lot of the climate progress made by Biden in favour of further fossil fuel development.
  
  In terms of climate progress, Trump has pledged to once again pull out of the Paris Agreement. Experts believe that Trump would also look for ways to stop the tax breaks introduced under the Inflation Reduction Act (IRA) to use the money in other sectors. However, this will largely depend on whether Republicans control both the House and Senate after November’s elections.
  
  The electric vehicles (EV) industry has grown rapidly under the Biden administration, supported by tax breaks and other financial incentives provided under the IRA. The U.S. is currently planning for a major shift away from internal combustion engine (ICE) vehicles to battery electric alternatives, supported by a huge investment in the country’s charging infrastructure. Meanwhile, Trump has regularly stated his opposition to EVs and would likely encourage automakers to slow their shift towards EV production to continue manufacturing ICE vehicles for longer. However, this may be a tough feat in states that have already invested heavily in EV charging infrastructure in anticipation of the rising public demand for EVs. Nevertheless, any push to slow the development of the EV market will likely result in a prolonged U.S. demand for oil and gas, which is currently expected to peak between 2025 and 2027 before slowly declining.
  Trump has been very vocal in recent appearances on issues of energy and migration, stating more than once that if he was “dictator for one day” he would address two issues: “for drilling and for closing the border.” This suggests that he will strongly support oil and gas production above renewable alternatives, making the investment environment more favourable for oil majors for years to come.
  
  The U.S. has rapidly developed its natural gas production and developed new export links in recent years, in response to the Russian invasion of Ukraine and subsequent sanctions on Russian energy. LNG production is expected to continue increasing as new projects come online and exports to Europe and other countries are set to soar. If elected, Trump would likely greenlight more gas projects and support the export of huge quantities of LNG to counter Russia’s global energy dominance. He is also expected to redo the U.S. Interior Department’s five-year offshore oil and gas leasing programme to expand the size and scope of drilling auctions.
  
  Overall, it seems clear that if Trump is elected to serve another term as president, he will reverse much of the work done under the Biden administration for climate change. His election will likely stall the progress of the IRA, as investors in renewable energy and clean tech wait to see whether the tax breaks and other financial incentives introduced under Biden remain in place. Further, Trump is expected to bring an end to any restrictions on oil and gas leases and facilitate the expansion of the fossil fuels industry for years to come.
  
  Source: oilprice.com
- 2024-07-26
  Goldman Sachs says next US president to have limited tools to significantly boost 2025 oil supply
  Goldman Sachs said on Thursday that whoever wins the U.S. presidential election in November will have limited tools to significantly boost domestic oil supply next year. Strategic petroleum reserve stocks are low and regulatory easing may only significantly... Read more Goldman Sachs said on Thursday that whoever wins the U.S. presidential election in November will have limited tools to significantly boost domestic oil supply next year.
  
  Strategic petroleum reserve stocks are low and regulatory easing may only significantly boost U.S. long-run supply, the bank said in a client note.
  
  Oil prices rose slightly on Friday after the release of U.S. economic data that beat analyst estimates, raising investor expectation for increased crude oil demand from the world's largest energy consumer.
  
  The Brent crude futures contract for September traded around $82 a barrel and U.S. West Texas Intermediate crude for September was around $78. [O/R]
  
  Goldman Sachs expects Brent prices to range from $75 to $90 in 2025, assuming trend-like growth in gross domestic product (GDP) and steady oil demand as well as market balancing by the Organization of the Petroleum Exporting Countries and affiliates.
  
  "While there is a lot of uncertainty about trade policy, tariffs on U.S. crude imports seem unlikely."
  
  Goldman Sachs expects oil prices to take a hit of as much as $11 per barrel next year as a result of weaker demand and GDP in a scenario where the U.S. imposes an across-the-board tariff of 10% on goods imports.
  
  However, tariffs could impact oil prices by as much as $19 if the Federal Reserve delays interest rate cuts beyond 2025 due to a higher core inflation rate, with Brent at $62 in the fourth quarter of 2025 compared to a current forecast of $81, the bank said.
  
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  Which stock should you buy in your very next trade?
  AI computing powers are changing the stock market. Investing.com’s ProPicks are 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
  
  Source: Investing.com, Reuters
- 2024-07-26
  Oil edges up on strong US GDP data but Asia economic woes limit gains
  Oil prices were up slightly on Friday on stronger-than-expected U.S. economic data that raised investor expectations for increasing crude oil demand from the world's largest energy consumer. But concerns about soft economic conditions in Asia's biggest... Read more Oil prices were up slightly on Friday on stronger-than-expected U.S. economic data that raised investor expectations for increasing crude oil demand from the world's largest energy consumer.
  
  But concerns about soft economic conditions in Asia's biggest economies, China and Japan, capped gains.
  
  Brent crude futures for September rose 7 cents to $82.44 a barrel by 0014 GMT. U.S. West Texas Intermediate crude for September increased 4 cents to $78.32 per barrel.
  
  In the second quarter, the U.S. economy grew at a faster-than-expected annualised rate of 2.8% as consumers spent more and businesses increased investments, Commerce Department data showed. Economists polled by Reuters had predicted U.S. gross domestic product would grow by 2.0% over the period.
  
  At the same time, inflation pressures eased, which kept intact expectations that the Federal Reserve would move forward with a September interest rate cut. Lower interest rates tend to boost economic activity, which can spur oil demand.
  
  Still, continued signs of trouble in parts of Asia limited oil price gains.
  
  Core consumer prices in Japan's capital were up 2.2% in July from a year earlier, data showed on Friday, raising market expectations of an interest rate hike in the near term.
  
  But an index that strips away energy costs, seen as a better gauge of underlying price trends, rose at the slowest annual pace in nearly two years, suggesting that price hikes are moderating due to soft consumption.
  
  China, the world's biggest crude importer, surprised markets for a second time this week by conducting an unscheduled lending operation on Thursday at steeply lower rates, suggesting authorities are trying to provide heavier monetary stimulus to prop up the economy.
  
  3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
  Which stock should you buy in your very next trade?
  With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
  
  In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
  
  With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.
  Source: Investing.com, Reuters
- 2024-07-26
  Canadian wildfire reaches Jasper, firefighters battle to protect oil pipeline
  A wildfire reached the Canadian town of Jasper, Alberta on Wednesday, one of hundreds ravaging the western provinces of Alberta and British Columbia, as firefighters battled to save key facilities such as the Trans Mountain Pipeline, authorities said. Wildfires... Read more A wildfire reached the Canadian town of Jasper, Alberta on Wednesday, one of hundreds ravaging the western provinces of Alberta and British Columbia, as firefighters battled to save key facilities such as the Trans Mountain Pipeline, authorities said.
  
  Wildfires burning uncontrolled across the region include 433 in British Columbia and 176 in Alberta, more than a dozen of them in the area of Fort McMurray, an oil sands hub.
  
  The pipeline, which can carry 890,000 barrels per day (bpd) of oil from Edmonton to Vancouver, runs through a national park in the Canadian Rockies near the picturesque tourist town, from which about 25,000 people were forced to evacuate on Tuesday.
  
  "Firefighters ... are working to save as many structures as possible and protect critical infrastructure, including the wastewater treatment plant, communications facilities, the Trans Mountain Pipeline," Parks Canada said in a post on Facebook (NASDAQ:META).
  
  The pipeline operator did not immediately respond to a Reuters request for comment, but said earlier it was safely operating the pipeline and had deployed sprinkler protection as a preventive measure.
  
  In the day's last update, Jasper National Park said it could not report on the extent of damage to specific locations or neighbourhoods, and that it would provide further updates on Thursday.
  
  Canadian Prime Minister Justin Trudeau said his government approved Alberta's request for federal assistance.
  
  "We're deploying Canadian Armed Forces resources, evacuations support, and more emergency wildfire resources to the province immediately - and we're coordinating firefighting and airlift assistance. Alberta, we're with you."
  
  The town, and the park, which draws more than two million tourists a year, were evacuated on Monday night, at a time when officials estimated there were 15,000 visitors in the park.
  
  Deteriorating air quality forced firefighters and others lacking breathing equipment to evacuate to the town of Hinton, about 100 km (62 miles) away, park authorities said on Facebook on Wednesday evening.
  
  Officials of Parks Canada earlier said they expected rain to arrive overnight.
  
  Which stock should you buy in your very next trade?
  With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
  
  In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
  
  With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies. Source: Investing.com, Reuters