Mabux: Global Bunker Prices

LNG BUNKER PAGE
- LNG bunker indexes
- OIL/GAS futures settlements
- LNG bunker news
- LNG fuel energy content
SEE LNG BUNKER INDEXES
MARKET BUNKER PRICES (MBP)
- 400+ ports worldwide
- Bunker Price History available from 2002
- Supplier's contact details
- Price forecast short (1 day) and long (rolling forward 2 years)
- Differentials section: VLSFO/380 HSFO, VLSFO/MGO LS, MGO LS/VLSFO
See Market Bunker Prices
DIGITAL BUNKER PRICES (DBP:ICE/NYMEX)
- Price adjustments to the Bunker Market's volatility instantly
- Completely independent
- Free from price manipulations
- Unique tool to identify overcharge/undercharge prices
See Digital Bunker Prices for free

MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 617.00
+168.00
1 475.00
-10.00
Sep 14
Click to see more LNG Bunker Indexes

Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 617.00	+168.00	1 475.00	-10.00	Sep 14

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
705.03	-4.29	870.80	+0.31	1 576.08	-2.37	Sep 18

Click to see Regional Bunker Indexes

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	602	723	-121	708	820	-112	1 475	1 645	-170	Sep 18
Singapore	737	763	-26	903	940	-37	1 435	1 638	-203	Sep 18
Fujairah	750	711	+39	1 000	879	+121	1 685	1 701	-16	Sep 18
Houston	512	731	-219	790	877	-87	1 490	1 618	-128	Sep 18

Click to see more details

Digital Bunker Prices
Reasons, Mechanism, Benefits
Click to view presentation

Try free for 3 days

Analytical Section
- Daily and Weekly Bunker analyses and Future Curves
- World and regional Bunker indices
- Bunker Price Forecast for 40+ ports
- Digital Bunker Prices
MABUX for Industry
- API for integration with your application, custom solutions available upon demand
- Bunker market analyses upon request for required region or port
- Bunker Price seminars that allow to learn how to use MABUX tools for bunker business
- MABUX Open Bunker Directory features contact details of bunker suppliers, traders and brokers worldwide.
Latest News
- 2026-09-18
  Oil prices fall for third day on hopes of limited Saudi supply disruptions
  Oil prices fell for a third day on Friday as easing concerns over Saudi supply disruptions outweighed anxiety about a widening the Middle East conflict amid fresh fighting between Saudi Arabia and Yemen’s Houthis. Brent crude futures fell 79 cents,... Read more Oil prices fell for a third day on Friday as easing concerns over Saudi supply disruptions outweighed anxiety about a widening the Middle East conflict amid fresh fighting between Saudi Arabia and Yemen’s Houthis.
  
  Brent crude futures fell 79 cents, or 0.75%, to $104 a barrel by 0319 GMT, while US West Texas Intermediate futures fell 70 cents, or 0.69%, to $101.20 a barrel. Both benchmarks closed down about 1% on Thursday.
  
  Brent prices are on track for their first weekly loss in three, down 0.5%, while WTI is set to gain 1.2%.
  
  Markets largely shrugged off concerns about new threats to supplies even as Saudi Arabia and Yemen’s Iran-backed Houthis exchanged fresh strikes across their border on Thursday, expanding the Middle East war front.
  
  Earlier this week, prices climbed to close to four-month highs as sources said crude loadings at Saudi Arabia’s Red Sea export hub of Yanbu had been suspended and Riyadh cancelled some deliveries to Europe after its East-West pipeline was damaged in an attack last week.
  
  However, prices have cooled off on reports Saudi Arabia was seeking to return about half the capacity of its East-West oil pipeline within days and the nation was offering more crude cargoes to Asian refiners through ship-to-ship transfers off Oman’s port of Sohar.
  
  "Recent efforts to restore Saudi export capacity have reduced some of the immediate supply anxiety," said Priyanka Sachdeva, head of market insights at Phillip ⁠Nova.
  
  Sources that have spoken to Reuters have given varying estimates of how long it will take to reopen the pipeline and return crude flows to normal.
  
  Oil prices, however, are still up over $100 per barrel as the markets are waiting for evidence of a clear supply improvement, analysts said.
  
  "The key question is whether physical flows can normalise and what could be the timeline. If we see a sustained improvement in Hormuz traffic, some of the geopolitical premium can unwind further," Sachdeva said.
  
  However, transporting oil through the region remains risky.
  
  Iran’s Revolutionary Guards Navy said a Togo-flagged oil tanker was struck while attempting to make an "illegal passage" through the Strait of Hormuz on Thursday, Iranian state media said early on Friday.
  
  The US and Iran have held no peace talks since an interim agreement reached in June collapsed within weeks. The war will come up for discussion at the United Nations General Assembly next week, and an Iranian delegation will be able to attend, according to the US State Department. Source: Reuters/Investing.com
- 2026-09-18
  Saudi Pipeline Outage Could Deepen the Global Fuel Crunch
  The temporary closure of the key onshore pipeline Saudi Arabia uses to bypass the Strait of Hormuz has added another shock to an oil market already struggling with six months of Middle East supply disruptions. And the damage now appears to be more... Read more The temporary closure of the key onshore pipeline Saudi Arabia uses to bypass the Strait of Hormuz has added another shock to an oil market already struggling with six months of Middle East supply disruptions.
  
  And the damage now appears to be more extensive than initially believed.
  
  Three pumping stations along Saudi Arabia’s East-West pipeline were damaged in last week’s attack, Reuters reported on Thursday, citing satellite imagery and industry sources. Earlier assessments had identified damage at two stations. Three sources told Reuters that repairs could take five to six weeks, although partial pumping could resume sooner.
  
  Before the attack, the system was moving between 4 million and 5 million barrels per day (bpd), equivalent to roughly 4%–5% of global oil supply. Its total capacity is around 7 million bpd, including approximately 2 million bpd supplied to refineries.
  
  Saudi Arabia shut the pipeline following multiple attacks on September 10. Satellite imagery previously published by MizarVision showed extensive fire and structural damage around pumping stations along the route.
  
  Saudi Arabia Races to Restore Pipeline Flows
  
  The revised damage assessment comes as Saudi Aramco races to restore at least part of the pipeline’s capacity.
  
  Aramco is seeking to bring roughly half of the route’s capacity back online within days, according to Bloomberg, potentially by bypassing damaged infrastructure. Full operations could take around six weeks to restore.
  
  That broadly corresponds with the latest Reuters assessment that repairs could take five to six weeks, although some pumping could resume while work continues.
  
  Related: America Is Paying a Lot for Fuel, Not Running Out of Gasoline
  
  Even a partial restart would provide some relief to an increasingly strained physical oil market.
  
  With the East-West pipeline shut down, Brent crude surged to around $108 per barrel earlier this week as traders confronted the loss of the biggest Middle Eastern oil export route that does not involve Hormuz.
  
  Saudi Arabia has relied heavily on the pipeline since the war began, moving roughly 4 million to 5 million bpd through the system during the past six months.
  
  Meanwhile, crude inventories at Yanbu offer only a limited buffer.
  
  Stocks at the Red Sea hub have fallen by nearly 6 million barrels over the past two months, from around 21 million barrels in July to below 15 million barrels, according to Kpler.
  
  “At 3.5 million bpd, 15 million barrels represents little more than four days of theoretical supply,” Kpler analysts Amena Bakr and Michelle Brouhard noted earlier this week.
  
  Not every barrel in storage is operationally available, meaning Saudi Arabia cannot simply maintain exports at previous levels until the tanks run dry.
  
  Saudi Arabia Turns Back to Hormuz
  
  Ironically, the pipeline outage is forcing Saudi Arabia to increase its reliance on the very waterway the East-West system was designed to bypass.
  
  Saudi Arabia has sold as many as 20 million barrels of crude on the spot market this week for loading this month and next, Bloomberg reported, with buyers expected to receive barrels through ship-to-ship transfers outside Hormuz.
  
  That allows buyers to avoid sending their own tankers deep into the Persian Gulf, but adds another layer of logistical complexity and cost.
  
  The pipeline shutdown has exposed a deeper weakness in the market’s assumed supply optionality.
  
  In effect, the market has attempted to bypass one chokepoint only to discover new concentrations of vulnerability.
  
  Physical Oil Moves Into Scarcity Pricing
  
  The consequences are increasingly visible in physical crude and refined-product markets.
  
  “Brent near USD 110 signals considerable stress, but arguably understates the severity of the current physical squeeze,” Saxo Bank commodity strategist Ole Hansen said this week, pointing to Dated Brent above $130 and diesel above $200 as clearer indicators of immediate scarcity.
  
  Steep backwardation and exceptionally strong refining margins show that buyers are paying increasingly large premiums for barrels available immediately.
  
  The pressure is particularly severe in diesel.
  
  U.S. diesel prices have climbed to record highs despite the United States being a major net exporter of distillates, as shortages elsewhere pull American barrels into the global market and drive refining margins higher.
  
  Gasoline prices have also risen despite entering a period when seasonal demand would normally begin weakening.
  
  The resulting energy-price surge is feeding into inflation at precisely the wrong time. The Federal Reserve raised its benchmark interest rate this week for the first time since 2023 as policymakers responded to renewed inflationary pressure.
  
  For the oil market, meanwhile, the significance of the Saudi attack extends well beyond the immediate loss of pipeline capacity.
  
  The East-West system was supposed to provide redundancy when Hormuz became unreliable. Its shutdown demonstrates that pipelines, storage tanks and alternative export terminals provide flexibility—but cannot eliminate geopolitical risk when the infrastructure itself becomes a target.
  
  And with three pumping stations now reported damaged, restoring one of the global oil market’s most important safety valves may prove considerably more complicated than initially hoped. Source: Oilprice.com
- 2026-09-18
  MABUX: Global bunker indices to shift lower on Sep. 18 amid easing concerns over Middle East supply disruptions.
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – continued to show mixed movements without a clear directional trend on Sep. 17: 380 HSFO: USD/MT: 709.32 (-6.82) VLSFO: USD/MT: 870.49 (-3.34) MGO:... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – continued to show mixed movements without a clear directional trend on Sep. 17:
  
  380 HSFO: USD/MT: 709.32 (-6.82)
  VLSFO: USD/MT: 870.49 (-3.34)
  MGO: USD/MT: 1 578.45 (+0.03)
  
  As of Sep. 17, the MABUX Market Differential Index (MDI), which tracks 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 was the only overvalued port, with its MDI premium widening by $16. The other three hubs stayed undervalued. MDI discounts widened by $10 in Rotterdam and $3 in Houston, while narrowing by $8 in Singapore. Undervaluation in both Rotterdam and Houston remained above the $100 mark.
  
  • VLSFO segment: Fujairah continued to be the only port in the overcharge zone, with its MDI premium widening by $24 and exceeding the $100 threshold. The other three hubs remained undervalued, with MDI discounts narrowing by $6 in Rotterdam, $30 in Singapore and $23 in Houston. Rotterdam’s undervaluation and Fujairah’s overvaluation remained above the $100 mark, while Houston’s discount moved below this threshold.
  
  • MGO LS segment: All four ports continued to be undervalued. MDI discounts declined by $15 in Rotterdam, $34 in Singapore, $20 in Fujairah and $15 in Houston. Undervaluation in Rotterdam, Singapore and Houston remained above the $100 threshold.
  
  MABUX expects global bunker indices to shift into a downward correction on Sep. 18, supported by easing concerns over potential supply disruptions in the Middle East:
  380 HSFO: minus 3-6 USD/MT, VLSFO: minus 3-7 USD/MT, MGO LS: minus 5–25 USD/MT.
  Source: MABUX
- 2026-09-18
  U.S. and Houthis Open Talks as Saudi Oil Crisis Deepens
  With assorted economic and military crises boiling all across the Middle East in the wake of his disastrous decision to launch a war on Iran, President Trump will meet with Persian Gulf leaders in New York next week, on the margins of the United Nations... Read more With assorted economic and military crises boiling all across the Middle East in the wake of his disastrous decision to launch a war on Iran, President Trump will meet with Persian Gulf leaders in New York next week, on the margins of the United Nations General Assembly. This diplomacy news came on the same day we learned US officials met over the weekend with representatives of Yemen's Ansar Allah. The group, which is often called "the Houthis," committed against targeting US interests, and the United States opted not to militarily intervene on Saudi Arabia's behalf in Yemen.
  
  First reported by Axios' Barak Ravid, Trump's meeting with Gulf leaders will supposedly center on American ideas for postwar strategy in the region. With no end of the war in sight, the "postwar" framing seems almost comically premature. On Wednesday, Trump told reporters, "Hopefully, we are toward the end of the war. [Iran] wants to make a deal very badly."
  
  Iranian officials have said they are uninterested in renewed negotiations "until Iran's conditions are met." It's unclear precisely what those conditions are, but they seemingly encompass the provisions of the June memorandum of understanding. The MOU briefly halted the war and opened shipping through the Strait of Hormuz, before Trump proceeded to violate multiple MOU requirements and the hot war was back on.
  
  The charred ruins of major pumping station on Saudi Arabia's east-west pipeline after an attack by an Iraqi militia
  From periodic volleys of Iranian missile fire to deeply diminished export revenue and an investment environment marred by soaring business risk, Persian Gulf states are all feeling the ill effects of the US-Israeli war on Iran. US bases in their states, rather than serving as a defensive shield, have instead served as magnets for Iranian missiles and drones. Hopes for an exit to the war took a hit with the postponement of what was going to be a Monday, Sept 14 meeting between several Gulf nations and Iran. Iran and Oman were poised to present their proposed arrangement for managing the flow of traffic through the Strait of Hormuz.
  
  Ravid also reported that Israeli Prime Minister Benjamin Netanyahu is asking for his 5th in-person meeting of the year with Trump next week, but no meeting has yet been scheduled. Ravid, an Israeli citizen and veteran of IDF intelligence, is seen by some as a conduit for narratives that serve the US-Israel relationship, with an emphasis on "scoops" about supposed disagreements between Trump and Netanyahu that never amount to anything.
  
  Trump Disinterested In Battling Yemen's Ansar Allah
  
  On another diplomatic front, Reuters reported that US officials met with an Ansar Allah delegation in Oman over the weekend, in the American embassy in Muscat. Ansar Allah assured their US counterparts that they would continue adhering to an Oman-brokered 2025 ceasefire with the US, and only intended to target Saudi forces and Saudi-shipping that attempted to enter the Red Sea. The meeting was said to have influenced the Trump administration's decision not to heed Saudi pleas for US military involvement in Yemen.
  
  Some 80% of Yemen's population lives in territory controlled by Ansar Allah, but Saudi Arabia has long backed other forces in Yemen that seek to defeat the group. A four-year truce between Saudi Arabia and Ansar Allah ended on July 13 when Saudi Arabia bombed an airport in Yemen's Ansar Allah-controlled capital of Sanaa to prevent an Iranian airliner from landing there with a delegation of Yemenis who'd attended the funeral of Iran's ayatollah. Ansar Allah retaliated, declared a blockade on Saudi traffic entering the Red Sea, and then achieved an enormous strategic victory by suddenly capturing the remainder of Yemen's western coastline, positioning its forces on the critical Bab al-Mandeb Strait. Saudi Arabia asked Trump to intervene, and was rebuffed.
  
  Members of Ansar Allah (aka "The Houthis") celebrate their downing of what OSINT observers say was $110 million Saudi F-15SA
  On a Wednesday episode of Daniel Davis Deep Dive, Robert Barnes, who claims to have knowledgeable sources inside the Trump White House, said Trump egged Saudi Arabia into attacking the airport:
  
  "MBS [Crown Prince Mohammed bin Salman] feels betrayed...it was Trump's idea to start that back up. He said, 'you know, I bet you can take them out. This would be a good way to get back at Iran is to finally conquer the Houthis. You've always wanted to.' You know, instigating MBS. And then of course it backfired terribly....When it went sideways, Trump pretended he had nothing to do with it. 'Sorry, good luck! I'll send you some advisors'."
  
  Fighting between Saudi Arabia and Ansar Allah has only intensified in recent days, with Saudi jets pounding Ansar Allah and the Yemeni group lashing out at Saudi military installations and the Saudi Red Sea oil hub at Yanbu. The kingdom's military posture is weakened by a shortage of missile interceptors, and it has reportedly asked France, Britain, Pakistan and Egypt to deploy air-defense assets in Saudi Arabia. The US military has seen its own supply of interceptors dramatically shrink over the course of its war on Iran. In one engagement last week in Jordan, the US blew through about 60 to 80 interceptors at a cost of around half a billion dollars.
  
  With shipping through the Strait of Hormuz hugely diminished, and with Saudi Arabia's east-west pipeline closed after an Iran-allied Iraqi militia attacked it at multiple locations, the kingdom is facing an economic crisis. Earlier this month, it was gauging interest in an $8 billion loan from commercial lenders. On a more optimistic note, it was reported on Wednesday that Saudi Arabia could restore roughly half the East-West pipeline's capacity within days.
  
  However, even that glass-half-full scenario assumes no subsequent strikes on the pipeline Source: Oilprice.com
- 2026-09-18
  Oil Prices Slide as China Presses Iran to Rein In the Houthis
  Oil prices are falling on Thursday on some headlines signaling potential de-escalation moves out of the Saudi-Yemen conflict, both via Reuters: China reportedly presses Iran to help rein in the Houthis after Saudi appeal, according to Retuers citing... Read more Oil prices are falling on Thursday on some headlines signaling potential de-escalation moves out of the Saudi-Yemen conflict, both via Reuters:
  
  China reportedly presses Iran to help rein in the Houthis after Saudi appeal, according to Retuers citing sources
  Oil prices fell on Wednesday after reports that Saudi Arabia was offering additional crude cargoes through Oman eased some concerns about Middle East supply disruptions, while a smaller-than-expected draw in U.S. crude inventories added further downward pressure.
  
  US crude futures have extended their drop to fall back below $100/bbl. This also comes amid continued reports of better-than-expected recovery in Gulf infrastructure, as Saudi Arabia is claiming it is able to restore half the capacity of its East-West pipeline within merely days. The optimism could prove just wishful thinking, however - and the coming week will tell.
  
  Starting last week, when the Houthis made their lightning-fast advance along the Red Sea coast, fragmenting the positions of the Saudi-backed coalition government, Riyadh turned to Beijing for help, the Thursday Reuters report indicates.
  
  "Chinese officials did not issue any explicit threats or indicate that Beijing would seek to pressure Tehran economically if it failed to use its influence over the Houthis, the three Iranian sources said," the report adds.
  
  The Chinese foreign ministry has responded to knowledge of the diplomatic maneuvering getting out that "China does not wish to see regional tensions further spill over into Yemen and the Red Sea. Escalating regional instability is not in the interests of any party".
  
  "The sovereignty and security of all countries should be respected, and facilities vital to people's livelihoods must not be targeted. China calls for an end to actions that further complicate the situation and urges resolving issues through dialogue and negotiation," it said.
  
  A senior Western diplomat in the region was separately quoted as saying "Beijing is one of the few capitals that can still press Iran to rein in the Houthis."
  
  Given that the Iran-aligned Shia group has often shown a willingness to cooperate and coordinate action to Tehran's benefit, Ansar Allah leadership may listen if it gets a signal to de-escalate from Iran.
  
  According to to some Thursday and latest developments via Al Jazeera:
  
  Yemeni government forces are trying to prevent Houthi advances on several fronts, including the strategic Kahbub mountains near Bab al-Mandeb and Taiz, with Saudi Arabia providing support with air strikes in areas around the city.
  President Donald Trump has told reporters that the US is “hopefully toward the end” of its war on Iran and notes that he has spoken with Iranians “directly”.
  UN Secretary-General Antonio Guterres urges de-escalation and diplomacy in the Middle East as fighting intensifies in Yemen and between the Houthi group and Saudi Arabia.
  Iran’s national security chief Mohsen Rezaei says the US must take practical steps to earn Tehran’s confidence, stressing that the country harbours zero trust in Washington.
  A UN fact-finding mission has found “reasonable grounds” to believe the US was behind two attacks, including the strike against a school in Minab in February, which it says constituted war crimes.
  On the Yemen front, Al Jazeera writes, "The fighting is continuing and government forces are claiming that the Ansarullah Houthis have suffered a lot of casualties in the clashes that are occurring on a number of fronts, mainly in western Taiz and also in Kahbub, which is a mountainous area with strategic importance as it overlooks Bab al-Mandeb."
  
  Throughout the conflict, both the Iranians and the Houthis have at various times said they are willing to grant China and other "friendly" countries like Russia "special considerations" when it comes to water transit and paying "fees" - the latter case related to the Strait of Hormuz. Source: Oilprice.com
- 2026-09-18
  America Is Paying a Lot for Fuel, Not Running Out of Gasoline
  Gasoline is expensive. Diesel is worse. Social media is melting down and has apparently decided America is running out of fuel. U.S. gasoline inventories rose 800,000 barrels last week to 207.7 million barrels, according to the EIA. Stocks are 5% below... Read more Gasoline is expensive. Diesel is worse. Social media is melting down and has apparently decided America is running out of fuel.
  
  U.S. gasoline inventories rose 800,000 barrels last week to 207.7 million barrels, according to the EIA. Stocks are 5% below the five-year average for this time of year. Tight, certainly, but hardly empty-tankish.
  
  Refineries processed 17.3 million barrels per day last week and operated at 96.8% utilization. Gasoline production increased to 9.6 million bpd. Gasoline demand averaged 8.8 million bpd over the past four weeks, down 1% from a year ago.
  
  That hasn’t stopped gasoline prices from rising.
  
  AAA put regular gasoline at $4.44 per gallon Thursday, up 16 cents in a week and more than $1.20 from a year ago. Diesel hit a fresh record at $6.40 per gallon.
  
  Diesel inventories explain more of the anxiety. Distillate stocks rose 1.6 million barrels last week but remain 13% below their five-year average. Russia has lost refinery capacity to Ukrainian drone strikes and extended restrictions on diesel exports. Middle Eastern product exports remain impaired by the Iran war. Those are real missing barrels.
  
  The Great Lakes have another problem layered on top. GasBuddy’s Patrick De Haan says refinery issues have pushed retail diesel to about $6.65 in Michigan, $6.53 in Ohio, $6.49 in Indiana and $6.46 in Illinois. He sees Michigan and several neighboring states approaching $7.
  
  That is a regional refining problem sitting inside a global diesel problem.
  
  De Haan has also been calling out viral posts claiming U.S. stations are broadly running dry, describing the alarm as fake. The EIA data back him up on gasoline: inventories rose last week, production rose, and demand is running below last year.
  
  Crude inventories are also 1% above their five-year average.
  
  There is plenty here to dislike. WTI is above $100. Refinery capacity is running hard. Diesel stocks are thin. Russia and the Middle East are removing fuel from a market that did not have much spare capacity to begin with.
  
  A $4.44 gallon of gasoline is painful.
  
  It is not evidence that the country is running out of it.
  
  Pricing hysteria could, however, create the very shortages people are panicking about in a self-fulfilling prophecy kind of way, with people rushing to fill up overnight in an effort to get in before a “pice spike”.
  
  Source: Oilprice.com
- 2026-09-18
  Russian Fuel Exports Rebound in August But Still Down 50% From Last Year
  Russia’s seaborne oil product exports jumped 16.4% in August from July as several refineries returned from unplanned maintenance. The rebound still left Russian fuel exports 50% below August 2025 levels. Russia shipped 4.57 million metric tons of oil... Read more Russia’s seaborne oil product exports jumped 16.4% in August from July as several refineries returned from unplanned maintenance. The rebound still left Russian fuel exports 50% below August 2025 levels.
  
  Russia shipped 4.57 million metric tons of oil products last month, according to industry sources and Reuters calculations. The cargo mix was weighted toward naphtha and fuel oil as Ukrainian drone strikes continued to hit refineries and Moscow kept diesel exports under restriction.
  
  The Baltic accounted for most of the improvement. Shipments from Primorsk, Vysotsk, St. Petersburg and Ust-Luga rose 32.7% from July to 2.62 million tons.
  
  Black Sea and Azov Sea exports moved the other direction, falling 25.3% to 930,000 tons. Arctic shipments from Murmansk and Arkhangelsk rose to 130,400 tons from 44,000 tons, while Far East loadings climbed 34% to 890,000 tons.
  
  The month-over-month gain looks considerably less impressive against last year.
  
  Russia’s refinery system has absorbed repeated Ukrainian attacks throughout 2026. Three of the country’s six largest diesel-producing refineries—Kirishi, Volgograd and NORSI—are either shut or operating at roughly one-quarter capacity. Those six plants account for about half of Russian diesel production.
  
  Moscow is now extending its diesel export ban through October 31, according to Russian media reports, giving refiners more time to complete maintenance and rebuild domestic stocks before winter.
  
  Russian diesel exports had already fallen below 1 million metric tons in June, compared with roughly 2.5 million tons per month a year earlier. Russia is one of the world’s largest diesel exporters, making those missing cargoes particularly uncomfortable in a global market already short on Middle Eastern fuel.
  
  U.S. diesel prices have climbed above $6 per gallon as refinery outages in Russia collide with reduced product flows from the Persian Gulf.
  
  August’s 16.4% export increase shows some Russian refinery capacity returning, but the 50% year-over-year collapse shows how much of it is still missing. Source: Oilprice.com
- 2026-09-18
  Kpler Sees Oil Grinding Higher as Diesel Crunch Deepens
  Kpler’s Matt Smith expects oil prices to keep grinding higher, with six and a half months of Middle East supply losses now working their way through gasoline and diesel prices. Smith told CNBC Thursday that oil prices have risen roughly $30 per barrel... Read more Kpler’s Matt Smith expects oil prices to keep grinding higher, with six and a half months of Middle East supply losses now working their way through gasoline and diesel prices.
  
  Smith told CNBC Thursday that oil prices have risen roughly $30 per barrel since early August. Gasoline would normally be falling at this point in the year as summer driving demand fades. It isn’t.
  
  Kpler estimates roughly 8.5 million barrels per day of oil production has been lost over the course of the conflict. Refinery runs have also been cut sharply, reducing the amount of gasoline and diesel produced from the crude that remains available.
  
  “That’s where the pain point is,” Smith said.
  
  Brent fell about 3% Thursday to $102.72 per barrel and WTI dropped to $100.47 after reports that Saudi Arabia was finding alternative ways to move crude while its East-West pipeline remains damaged.
  
  Smith put the potential loss from a possible month-long East-West pipeline outage at 100 million to 120 million barrels that could not be exported through Yanbu. Saudi Arabia has increased loadings inside the Persian Gulf and moved some of those barrels through Hormuz, where ship traffic remains severely constrained.
  
  Only three commercial vessels transited Hormuz Wednesday, compared with 12 Tuesday and a 10-day average of 17, according to ship-tracking data cited by Reuters.
  
  Diesel has fewer escape routes.
  
  Smith said the Middle East normally exports about 3 million bpd of refined products. Russia, the world’s second-largest diesel exporter behind the United States, is simultaneously losing refinery output to Ukrainian drone strikes and restricting fuel exports.
  
  China has spare refining capacity, but Smith said Chinese refiners pulled back when crude moved above $100 and remain primarily focused on supplying their domestic market. Product exports have increased only modestly.
  
  U.S. diesel prices are already above $6 per gallon, raising costs for trucking, agriculture, construction and manufacturing.
  
  Smith expects crude to keep grinding higher without a de-escalation. Diesel, he said, “doesn’t get fixed very easily.” Source: Oilprice.com
- 2026-09-18
  UK Energy Bills Could Jump 25-30% From January as Gas Prices Soar
  The UK household energy bills could jump by between 25% and 30% in the first quarter of 2027 amid surging natural gas prices as the Middle East crisis drags on, analysts say, warning that the government may have to spend more money on measures to ease... Read more The UK household energy bills could jump by between 25% and 30% in the first quarter of 2027 amid surging natural gas prices as the Middle East crisis drags on, analysts say, warning that the government may have to spend more money on measures to ease the cost-of-living crisis.
  
  Household energy bills will rise by 4% from October for the fourth quarter of this year.
  
  But the jump for the first quarter of 2027 could be as high as 30%, according to a forecast by France's EDF, one of the biggest energy providers in the UK, cited by the Independent.
  
  Earlier this week, another forecast, from Bloomberg Economics, projected UK household energy bills to spike by 25% for the period January to March 2027, as international gas prices soar with the escalation of the Middle East conflict.
  
  UK's energy regulator Ofgem last month raised the energy price cap on household bills by 4% for October through December 2026, which means bills would be at a three-year high at the beginning of the winter.
  
  The UK has a so-called Energy Price Cap in place, which protects households from excessively high bills by capping the price that energy utility providers can pass on to them. The price cap is a limit on what suppliers can charge domestic consumers per kilowatt hour of energy used.
  
  The quarterly adjustment of this energy cap could see a sharp spike for the rest of this winter in January to March 2027, as gas prices continue to rally and global LNG supply remains reduced by Qatari and UAE cargoes not leaving the Strait of Hormuz.
  
  EDF projects the regulator Ofgem to hike the energy price cap by 30% to £2,165 ($2,897) a year for a typical household for January-March, compared to £1,723, or $2,306, for October-December 2026.
  
  Bloomberg Economics, for its part, expects the price cap to jump by about 25%, or by £427 ($571) to about £2,150 ($2,878) per UK household per year. Source: Oilprice.com
- 2026-09-18
  Europe's Biggest Independent Solar Operator Just Went Bankrupt
  The soaring wind and solar capacity installations in Germany have created an unsustainable business and project economics environment in the sector amid slower grid expansion and electricity generation curtailments. In 2023, Germany crossed the 50%... Read more The soaring wind and solar capacity installations in Germany have created an unsustainable business and project economics environment in the sector amid slower grid expansion and electricity generation curtailments.
  
  In 2023, Germany crossed the 50% mark of the share of renewable energy in its electricity generation.
  
  This year, renewable energy accounted for a record-high 58% of Germany’s electricity consumption in the first half, up from 55.8% for the same period last year, estimates by industry associations ZSW and BDEW showed in July.
  
  Germany is looking to boost its solar and wind power generation sectors with ambitious goals and legislative changes to ease and streamline the permitting processes. Europe’s biggest economy has a target to install 10 gigawatts (GW) of wind power capacity every year to have renewables account for 80% of its electricity generation in 2030.
  
  While Germany makes progress in its renewable energy capacity additions, some wind and solar energy developers and operators have filed for insolvency in recent weeks amid piling debts.
  
  The capacity increase has outpaced the upgrades and expansions of the grids, which have delayed the connection of some solar and wind power projects to the grid. Additionally, the curtailment of wind and solar output when generation soars forces the electricity generators to reduce renewable energy generation, leading to losses for the wind farm and solar park operators. Spiking renewable power generation also often leads to below-zero day-to-day prices, further weighing on the economics of the projects.
  
  And some developers have struggled to survive.
  
  Just last week, Enerparc AG, one of Europe’s largest solar park operators, filed for insolvency in a Hamburg court. Operations will continue at Enerparc’s solar sites while the provisional insolvency administrators work “to stabilize business operations and the group companies,” the solar developer said.
  
  Enerparc has 5.5 gigawatts (GW) of installed capacity—3.8 GW of which are connected to the grid—and more than 500 solar parks, making it one of Europe’s largest independent solar park owners.
  
  Earlier this summer, German solar and wind developer SoWiTec announced insolvency due to excessive debt.
  
  The worsening project economics could lead to more insolvencies in the near term, Jens Burchardt, co-founder of Boston Consulting Group’s Center for Climate and Sustainability, told Bloomberg.
  
  “Efficient, diversified developers will still make money, just not the kind of money they made during the energy-crisis years,” Burchardt noted. Source: Oilprice.com

Buy subscriptions via