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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
995.00
-32.00
1 170.00
+35.00
Apr 13
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	995.00	-32.00	1 170.00	+35.00	Apr 13

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
744.00	+1.32	874.42	+3.97	1 422.31	+8.88	Apr 20

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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	600	634	-34	655	709	-54	1 170	1 168	+2	Apr 20
Singapore	641	660	-19	702	786	-84	1 330	1 161	+169	Apr 20
Fujairah	609	606	+3	708	756	-48	1 475	1 224	+251	Apr 20
Houston	615	630	-15	819	722	+97	1 145	1 086	+59	Apr 20

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Latest News
- 2026-04-20
  Oil prices jump 7% after US seizes Iran ship, Hormuz closed again
  Oil prices rose sharply in early Asian trade on Monday after the U.S. said it had seized an Iranian cargo ship, while Tehran closed the Strait of Hormuz after briefly opening the channel over the weekend. Brent oil futures jumped as much as 7% to $97.50... Read more Oil prices rose sharply in early Asian trade on Monday after the U.S. said it had seized an Iranian cargo ship, while Tehran closed the Strait of Hormuz after briefly opening the channel over the weekend.
  Brent oil futures jumped as much as 7% to $97.50 a barrel before trading at $95.14 a barrel by 21:49 ET (01:49 GMT).
  Get more breaking news on oil and the Iran war by subscribing to InvestingPro
  Trump says Iran vessel seized; Tehran blocks Hormuz again
  U.S. President Donald Trump said the military had fired on an Iranian-flagged cargo ship that tried to run a U.S. blockade, and had seized the vessel.
  Iran decried the move and vowed retaliation, state media showed. This was after Tehran reopened the Strait of Hormuz over the weekend, only to close it in less than 24 hours. Oil had tumbled over 9% on Friday after Iran initially announced the reopening.
  Tehran had then fired on several vessels attempting to cross the channel over the weekend.
  The developments pointed to worsening tensions between the U.S. and Iran, and raised questions over whether more peace talks were even possible before a two-week ceasefire ends on April 21.
  The U.S.-Israel war on Iran entered its eighth consecutive week, with the weekend developments presenting little scope for immediate de-escalation. Persistent disruptions in oil flows through the Strait of Hormuz are expected to keep crude prices underpinned in the coming days.
  
  The channel supplies roughly a fifth of the world’s total oil consumption.
  "Markets may have priced an overly swift resumption of energy flows. The standoff looks set to drag on as both sides test pain thresholds. Near term, some risk wobble and a USD rebound are likely," OCBC analysts said in a note.
  Still, they noted that the endgame remained a deal, "albeit via a messy path of brinkmanship with elevated tail risk."
  Oil had surged to nearly $120 a barrel with the onset of the war, but trimmed a bulk of its gains in the past two weeks after Trump touted peace talks with Tehran.
  Additional peace talks unclear as ceasefire end looms
  It remained unclear whether additional talks between the U.S. and Iran will take place before their ceasefire expires on Tuesday.
  Trump said U.S. envoys would arrive in Pakistan on Monday evening for more talks, led once again by Vice President JD Vance.
  But Iranian state media reported that Tehran had rejected more peace talks. The Tasnim news agency reported that Tehran had not made any decision to dispatch a negotiating delegation to Islamabad, and that no talks would take place as long as a U.S. naval blockade remained.
  The U.S. blockaded all Iranian vessels and ports last week, likely as a bid to further pressure Iran into a ceasefire deal. This came after Pakistan-hosted ceasefire talks held last weekend yielded little progress. Source: Reuters/Investing.com
- 2026-04-20
  US seizes Iranian cargo ship, Tehran vows to retaliate
  The United States said on Sunday that it had seized an Iranian cargo ship that tried to run its blockade and Iran said it would retaliate, raising the possibility that the ceasefire between the two countries might not last for even the two days it is... Read more The United States said on Sunday that it had seized an Iranian cargo ship that tried to run its blockade and Iran said it would retaliate, raising the possibility that the ceasefire between the two countries might not last for even the two days it is set to remain in force.
  Efforts to build a more lasting peace in the region likewise appeared to be on shaky ground, as Iran said it would not participate in a second round of negotiations that the U.S. had hoped to kick off before the ceasefire expires on Tuesday.
  A weeks-long blockade of shipping that has driven global oil prices higher likewise might remain in place.
  The United States has maintained a blockade of Iranian ports, while Iran has lifted and then reimposed its own blockade on marine traffic passing through the Strait of Hormuz, which typically handles roughly one-fifth of the world’s oil supply.
  The U.S. military said Sunday it had fired on an Iranian-flagged cargo ship as the vessel sailed toward Iran’s Bandar Abbas port. "We have full custody of their ship, and are seeing what’s on board!" President Trump wrote on social media.
  Iran’s military said the ship had been traveling from China. "We warn that the armed forces of the Islamic Republic of Iran will soon respond and retaliate against this armed piracy by the U.S. military," a military spokesperson said, according to state media.
  
  Iranian state media also reported that Tehran had rejected new peace talks, citing the ongoing blockade, threatening rhetoric, and Washington’s shifting positions and "excessive demands."
  "One cannot restrict Iran’s oil exports while expecting free security for others. The choice is clear: either a free oil market for all, or the risk of significant costs for everyone," Iran’s First Vice President Mohammadreza Aref wrote on social media.
  Trump had earlier warned Iran that the United States would destroy every bridge and power plant in Iran if Tehran rejected his terms, continuing a pattern of such threats throughout the war.
  Iran has said that if the United States were to attack its civilian infrastructure it would hit power stations and desalination plants of Gulf Arab neighbours.
  Brent crude futures jumped about 7% to $96.85 a barrel and S&P 500 futures fell about 0.9% in early Asian trading, as investors dealt with conflicting messages about the war.
  PREPARING FOR TALKS THAT MIGHT NOT HAPPEN
  Trump said his envoys would arrive in Islamabad on Monday evening, one day before a two-week ceasefire ends.
  A White House official had said the U.S. delegation would be headed by Vice President JD Vance, who led the war’s first peace talks a week ago, and also include Trump’s envoy Steve Witkoff and son-in-law Jared Kushner. Trump had separately told ABC News and MS Now that Vance would not go.
  
  Pakistan, which has served as the main mediator, appeared to be preparing for the talks. Two giant U.S. C-17 cargo planes landed at an air base on Sunday afternoon, carrying security equipment and vehicles in preparation for the U.S. delegation’s arrival, two Pakistani security sources said.
  Municipal authorities in the capital city of Islamabad halted public transport and heavy-goods traffic through the city. Barbed wire was rolled out near the Serena Hotel, where last week’s talks were held. The hotel told all guests to leave.
  The apparent diplomatic setback could set the stage for a renewed surge in oil prices when markets reopen after the weekend.
  Now in its eighth week, the war has created the most severe shock to global energy supplies in history, sending oil prices surging because of the de facto closure of the strait.
  Thousands of people have been killed by U.S.-Israeli strikes on Iran and in an Israeli invasion of Lebanon conducted in parallel since the war began on February 28. Iran responded to the attacks with missiles and drones against its Arab neighbours that host U.S. bases.
  Iran’s parliament speaker, Mohammad Baqer Qalibaf, who has led Iran’s side in the talks, had earlier said the two sides had made progress but were still far apart on nuclear issues and the strait.
  European allies, repeatedly criticized by Trump for not aiding his war effort, worry that Washington’s negotiating team is pushing for a swift, superficial deal that would require months or years of technically complex follow‑on talks.
  
  Iran’s semi‑official Tasnim news agency reported that two liquefied petroleum gas tankers that attempted to transit the strait were turned back by Iran’s armed forces on Saturday. One of the tankers – the Angola‑flagged LPG tanker G Summer - later exited the Gulf on a second attempt, according to MarineTraffic vessel tracking data. Source: Reuters/Investing.com
- 2026-04-20
  MABUX: Global bunker market expected to resume upward trend on Apr. 20 amid renewed Hormuz closure.
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — declined on Apr. 17 amid easing geopolitical concerns after Iran declared the Strait of Hormuz open: 380 HSFO: USD/MT: 742.68 (-9.36) VLSFO:... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO — declined on Apr. 17 amid easing geopolitical concerns after Iran declared the Strait of Hormuz open:
  
  380 HSFO: USD/MT: 742.68 (-9.36)
  VLSFO: USD/MT 870.45 (-8.19)
  MGO: USD/MT 1 413.43-24.36)
  
  As of Apr. 17, the MABUX Market Differential Index (MDI) — reflecting the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP) — indicated the following trends across key global hubs (Rotterdam, Singapore, Fujairah, Houston:
  
  • HSFO segment: All four ports remained in the undercharge zone, with discounts widening further: by $45 in Rotterdam, $50 in Singapore, $40 in Fujairah, and $31 in Houston.
  
  • VLSFO segment: Houston returned to the undercharge zone, resulting in all four ports being underpriced. Discount levels increased by $32 in Rotterdam, $60 in Singapore, $46 in Fujairah, and $48 in Houston. MDI values in Rotterdam, Singapore, and Fujairah exceeded the $100 threshold, while Houston’s MDI approached a 100% correlation level between MBP and DBP.
  
  • MGO LS segment: Rotterdam and Houston remained undercharged, with discount margins widening by $90 in both ports. Singapore and Fujairah continued to be overcharged, although premiums declined by $86 and $40 respectively. Singapore’s MDI hovered near the 100% correlation mark, while Rotterdam and Fujairah exceeded the $100 level.
  
  The global bunker market is projected to regain upward momentum on April 20 following another closure of the Strait of Hormuz: plus 5-10 USD/MT, VLSFO: plus 5–10 USD/MT, MGO LS: plus 10–20 USD/MT. The renewed supply concerns linked to Hormuz transit disruptions are likely to support bullish sentiment across all major bunker fuel segments.
  Source: MABUX
- 2026-04-20
  Europe Faces Summer Jet Fuel Crisis as Iran War Slashes Supply
  Accelerated refinery closures in the past decade and increased dependence on kerosene from the Middle East have exposed Europe’s energy supply vulnerability once again. For years, European consumers have had to contend with last-minute strikes of ground... Read more Accelerated refinery closures in the past decade and increased dependence on kerosene from the Middle East have exposed Europe’s energy supply vulnerability once again.
  
  For years, European consumers have had to contend with last-minute strikes of ground personnel and cabin crew during peak summer travel. This year, strikes may be viewed as a minor nuisance compared to what’s coming within weeks—a jet fuel supply crisis that could ground flights and hike fares.
  
  The war in Iran has cut most of Europe’s imports of jet fuel, while local output has been falling for nearly two decades due to dozens of refineries closing permanently or being converted to biofuel production.
  
  The war in Iran and the closure of the Strait of Hormuz have severely constrained Europe’s jet fuel supply, while jet fuel prices have spiked to over $200 per barrel. The last imports from the Middle East on tankers that had passed Hormuz before the war began have arrived, and there is only one alternative to source jet fuel—from the United States. These supplies are not only insufficient to replace the loss of Middle Eastern jet fuel. Europe faces increasingly fierce competition from Asia for these cargoes as the crisis first hit Asia with crude supply from the Middle East collapsing, Asian refiners cutting refinery runs, and countries imposing fuel export restrictions to preserve domestic supply.
  
  Back in 2009, nearly 100 refineries were operating in Europe. Of these, 28 refineries – more than 25% of the number of refineries and 16% of refining capacity – have been either shut or transformed since 2009, according to data from the European Fuel Manufacturers Association.
  
  As refineries were closing, due to declining fuel demand in Europe and emission-reduction policies, the European dependence on imported supply has grown. The hit to supply from the Middle East caught Europe off guard regarding the security of energy supply for the second time in just four years, after natural gas deliveries from Russia crashed in 2022.
  
  This time, the jet fuel crisis could be imminent, analysts and forecasters warn.
  
  Last year, Europe imported about a third of the jet fuel it consumed, with 75% of imports coming from the Middle East, the International Energy Agency (IEA) has said.
  
  Its executive director, Fatih Birol, this week warned that Europe has “maybe six weeks or so” of remaining jet fuel supply.
  
  “If we are not able to open the Strait of Hormuz ... I can tell you soon we will hear the news that some of the flights from city A to city B might be canceled as a result of lack of jet fuel,” Birol told Associated Press in an interview.
  
  Northwest Europe is one of the regions most exposed to the jet fuel crisis, as imports have dropped from historical norms this month, and the import decline is set to accelerate in the coming weeks as more U.S. jet fuel cargoes would go to Asia instead of Europe, Ernest Censier, market analyst at Vortexa, said in an analysis on Thursday.
  
  The 15% drop in European jet fuel imports so far in April “reflects structural dependence on Middle Eastern supply: approximately half of NWE’s jet fuel imports typically transit through the Strait of Hormuz,” Censier said.
  
  In addition, relatively short voyage times of about 21 days from Mina Abdulla in Kuwait to Rotterdam mean that supply disruptions are transmitted quickly into regional imports, the analyst added.
  
  The U.S. has emerged as the key source of substitution for lost Middle Eastern supply, but this is unlikely to be sustained as U.S. jet/kerosene exports are increasingly being redirected toward the Pacific Basin, reaching a seven-year high this month, and now accounting for over 30% of total U.S. jet fuel exports.
  
  “This reallocation reflects a broader shift in US product exports toward the Pacific Basin,” Vortexa’s Censier noted.
  
  This leaves Europe highly exposed to the turbulence in the jet fuel markets.
  
  Lufthansa, Europe’s biggest airline, on Thursday said it is accelerating plans to reduce its flight program and retire some aircraft earlier “In view of significantly increased kerosene prices, which have more than doubled compared to the period before the Iran war, as well as rising additional burdens from labor disputes.”
  
  “The package for accelerated implementation of fleet and capacity measures is unavoidable in light of the sharply increased kerosene costs and geopolitical instability,” said Till Streichert, Chief Financial Officer of Lufthansa Group. Source: Oilprice.com
- 2026-04-20
  Trading Desks Boom While Big Oil Output Stalls
  Europe’s supermajors are set to report a strong quarter later this month and in early May thanks to their trading divisions. While Big Oil does not report trading profits, BP, Shell, TotalEnergies, and Equinor all signaled they are making a lot of money... Read more Europe’s supermajors are set to report a strong quarter later this month and in early May thanks to their trading divisions. While Big Oil does not report trading profits, BP, Shell, TotalEnergies, and Equinor all signaled they are making a lot of money on trade with oil and gas in what some say is the worst supply crisis in history.
  
  Shell was the first to flag “significantly higher” profits from oil and gas trading in its financial report for the first quarter of the year. The company attributed the expected windfall on the extreme volatility in international oil and gas markets resulting from the disruption of production and exports from the Middle East.
  
  That said, Shell also reported that its own oil and gas production for the quarter would be down from the last quarter of 2025, at between 880,000 bpd and 920,000 bpd in oil equivalent, compared with 948,000 barrels daily in the fourth quarter of 2025. The company noted this reflected “the impact of the Middle East conflict on Qatari volumes.” Shell reports first-quarter results on May 7.
  
  BP was next, reporting in an update that it expected an “exceptional” oil trading result for the first quarter of 2026, amid the extreme volatility in prices. While those watching the futures market alone may find it puzzling that the supermajors are talking about extreme volatility, those focusing on physical oil prices would hardly be surprised. Earlier this month, the price for a barrel of Brent for immediate delivery spiked to $150.
  
  BP, which is set to report full first-quarter earnings on April 28, noted in its update that all its estimated earnings “include impacts associated with the ongoing situation in the Middle East and the current market conditions resulting in heightened volatility in crude oil, natural gas and refined products prices in the latter part of the first quarter.” With fuel shortages already emerging in parts of the world, the strength in trading performance may extend into the second quarter as well.
  Related: Tankers U-Turn in Persian Gulf as Iran Closes Hormuz Again
  
  TotalEnergies was the third supermajor to boast higher profits from oil and gas trading when it reports financials on April 29. The company said in its update on first-quarter results that the war between the U.S. and Israel, and Iran had effectively shut in as much as 15% of TotalEnergies’ global oil and gas production, which also accounts for a tenth of the company’s cash flow from upstream operations.
  
  However, higher international prices for both oil and LNG would boost TotalEnergies’ trading profits considerably, the company said, noting that “Integrated LNG results and cash flow are expected to be significantly higher than fourth quarter 2025, underpinned by a 10% LNG production increase compared to fourth quarter and strong trading activities benefiting from market volatility.” Also, production startups in Brazil and Libya had offset lost Middle Eastern barrels, TotalEnergies said. The startups contributed to a total first-quarter production rate that would be flat on the fourth quarter of 2025.
  
  Norway’s state-owned supermajor Equinor will also reap the benefits of an extra-volatile oil and gas market when it reports first-quarter results on May 6. “The conflict in the Persian Gulf has driven significant volatility across crude, products, and liquids towards the end of the quarter,” the company said in its update, noting that it had guided for operating income from its trading division of some $400 million, but the actual result would be higher.
  
  Equinor, which is currently the biggest single supplier of natural gas to Europe, also said that “Not directly related to the situation in the Middle East, European geographic spreads supported gains from optimising European gas flows.” These gains would extend into the current and future quarters as the European Union begins to refill gas storage depleted after a cold winter.
  
  Meanwhile, Exxon saw its hedging decisions weigh on its own first-quarter results despite the bump provided by higher oil and gas prices. The supermajor said the effect of the Middle East war on its earnings could reach $2.9 billion. However, the net result would be dragged lower by refining results, price hedging, and shipment disruptions, which could suffer a hit of between $3.3 billion and $5.3 billion.
  
  Chevron will also enjoy a windfall from higher oil and gas prices, reporting its first-quarter profits would see a boost of some $1.6 billion to $2.2 billion from the fourth quarter of 2025. Like its larger peer Exxon, Chevron would also incur hefty losses from downstream operations and hedging, estimating these at between $2.7 billion and $3.7 billion as an impact on its profits and operating cash flow.
  
  All in all, Big Oil is making money as it always does during times of supply tightness, likely to be duly rewarded by shareholders, despite the hedging losses for the American majors. Meanwhile in Europe, Italy’s Eni will likely accelerate its return to oil and gas trading, as chief executive Claudio Descalzi said earlier in the year, before the war against Iran began.
  
  “I stopped trading in 2019, but the other big companies are all traders,” Claudio Descalzi told the Financial Times in February. “BP, Shell, Total are big traders, and they make billions from that.” Source: Oilprice.com
- 2026-04-20
  White House Wants a Nuclear Reactor Orbiting the Moon by 2028
  The Trump administration has grand plans for “ENSURING AMERICAN SPACE SUPERIORITY.” When NASA sent humans to the moon for the first time this century earlier this month, the organization made it clear that this is just the “opening act” for a new and... Read more The Trump administration has grand plans for “ENSURING AMERICAN SPACE SUPERIORITY.” When NASA sent humans to the moon for the first time this century earlier this month, the organization made it clear that this is just the “opening act” for a new and revitalized era of space exploration. Under the Trump administration, NASA has enormous ambitions, going as far as to plan a permanent base on the moon, which will need never-before-seen energy innovations to maintain a secure source of power. This week, the federal government laid out its plans to achieve it.
  
  The plan is to send a nuclear reactor into space. Last year, Trump issued a plan to install a nuclear reactor on the surface of the moon, but new orders describe a brand new vision. The April 14 plan lays out a mandate for NASA, the Pentagon and the Department of Energy to develop a nuclear system capable of orbiting the moon, and to have it launch-ready as soon as 2028.
  
  To achieve this vision, NASA will partner with various agencies to fast-track mid-power fission reactor designs and surface power variants, which will compete to achieve near-term demonstration of viable models. “The White House’s overall strategy is to conduct parallel and mutually-reinforcing NASA and Department of War (DOW) design competitions to enable near-term demonstration and use of low- to mid-power space reactors in orbit and on the lunar surface, and prepare to deploy high-power reactors in the 2030s,” Interesting Engineering reported this week.
  
  Solving the riddle of generating power in space would be revolutionary for space exploration and expansion, and all of the political and economic power that comes along with it. “With great power competition rising, the ocean floor, Arctic, and lunar surface are becoming the front lines of global security and economic progress — but they remain energy deserts,” says Tyler Bernstein, Chief Executive Officer of a venture-backed nuclear battery startup called Zeno Power.
  
  Nuclear is widely seen as the only feasible solution to bringing energy into space. Lunar days are extremely long, and each lunar night lasts 14 Earth days, meaning solar power is out of the question. There is no wind on the surface of the moon, so wind power is out as well. Nor is there flowing water for hydropower. Fossil fuels are not available on the moon, and bringing them into orbit would be a ludicrous waste of resources. By comparison, nuclear fission powered with high-assay, low-enriched uranium is far and away the best option.
  
  Based on these facts, it should not be surprising that the idea of bringing nuclear power to space is a very old one that has been tried many times before. In fact, the United States launched a nuclear reactor into orbit way back in 1965, and the Soviet Union launched similar projects. However, both the United States and the USSR released radioactive materials into the atmosphere and on Earth as a part of these efforts, and this track of nuclear development was soon abandoned due to growing pushback and a wave of anti-nuclear sentiment.
  
  Of course, nuclear fission technology has changed and advanced considerably since those ill-fated ventures. But NASA has continued to explore space-based nuclear power in the past decades, “spending billions on nuclear power projects that haven’t gone anywhere” according to a recent report from Scientific American.
  
  But a new nuclear era is upon us. Public support for nuclear power is on the rebound, and space-age ambitions have likewise come roaring back in the Oval Office as well as the private sector. And U.S. leadership is outwardly confident that this time around, it will work. “Nuclear power in space will give us the sustained electricity, heating, and propulsion essential to a permanent robotic and eventually human presence on the moon, on Mars, and beyond,” Michael Kratsios, the director of the White House’s science and technology policy office, recently said at the Space Symposium. Source: Oilprice.com
- 2026-04-20
  Strait of Hormuz Faces Full Shutdown as Iran Escalates Standoff
  The Strait of Hormuz is once again at the center of escalating geopolitical tensions, with Iran moving to restrict vessel traffic amid an ongoing U.S. naval blockade. According to multiple reports, Iran has turned back at least 20 vessels attempting... Read more The Strait of Hormuz is once again at the center of escalating geopolitical tensions, with Iran moving to restrict vessel traffic amid an ongoing U.S. naval blockade.
  
  According to multiple reports, Iran has turned back at least 20 vessels attempting to transit the strait, while U.S. enforcement actions have redirected additional ships, bringing total disruptions to more than 20 tankers. Merchant vessels reportedly received direct radio warnings from Iranian naval forces declaring the waterway closed to all traffic following what Tehran described as a failure by Washington to uphold ceasefire commitments.
  
  The developments mark a sharp reversal from earlier optimism. Just days ago, Iran had signaled that navigation through Hormuz was “completely open” following a temporary ceasefire agreement tied to de-escalation in Lebanon. That arrangement now appears to be unraveling, with both sides maintaining overlapping restrictions—effectively choking off maritime access.
  
  Security risks are also rising. A U.S. defense official said Iran’s Revolutionary Guard Corps has carried out multiple attacks on commercial vessels in recent days, while shipowners reported gunfire incidents in the strait. India is reportedly preparing a diplomatic response after two Indian-flagged vessels, including a Very-Large-Crude-Carrier (VLCC) laden with 2 million barrels of Iraqi crude, were attacked near the Strait of Hormuz.
  
  Despite ongoing diplomatic messaging from Washington suggesting progress in talks, the situation on the water tells a different story. Shipowners remain hesitant to return, with many vessels already redeployed outside the region and tanker availability in the Middle East sharply reduced.
  
  With the Strait still under Iranian control and access limited to vessels cleared by its authorities, the risk of a prolonged disruption to global oil flows is increasing—leaving markets bracing for further volatility and potential supply shocks, especially after Friday’s sharp selloff, which may prove short-lived if physical constraints persist and traders are forced to reprice the severity of the disruption.
  
  Source: Oilprice.com
- 2026-04-20
  Spain Probes Europe's Worst Blackout Over Power Rule Breaches
  The Spanish market and competition regulator on Friday opened probes into potential breaches of power sector rules as part of a wider investigation into last year's blackout in the country. Spain's grid buckled on April 28, 2025, leaving the country,... Read more The Spanish market and competition regulator on Friday opened probes into potential breaches of power sector rules as part of a wider investigation into last year's blackout in the country.
  
  Spain's grid buckled on April 28, 2025, leaving the country, most of Portugal, and, for shorter periods of time, parts of France, without electricity.
  
  Investigations and multiple reports have found over the past year that the immediate cause of the worst blackout Europe has ever seen in modern times was a surge in voltage.
  
  On Friday, the Spanish market and competition regulator, CNMC, announced that it had found breaches of power sector regulations over extended periods of time that should be formally investigated, "although they do not in themselves constitute the cause of the incident."
  
  As a result of ongoing investigations into the blackout and power sector behavior prior to, during, and after the outage, the CNMC has detected various indications of non-compliance with the power sector rules. Some of the non-compliant behavior was maintained for extended periods of time, "which would have affected the functioning of the electricity system and could constitute administrative infringements."
  
  The new investigation into suspected breaching of the power sector rules does not imply that the watchdog is attributing the origin or cause of the blackout to the affected companies, "considering the fact that the incident had multiple causes," the regulator said.
  
  The probes are expected to be completed within 9 to 18 months.
  
  Last year, an expert panel of the European network of electricity transmission system operators, ENTSO-E, released its report on the April 2025 blackout.
  
  The report highlighted "the exceptional and unprecedented nature of this incident - the first time a cascading series of disconnections of generation components along with voltage increases has been part of the sequence of events leading to a blackout in the Continental Europe Synchronous Area."
  
  In short, the report said that excessive voltage was the driver behind the blackout.
  
  Source: Oilprice.com
- 2026-04-20
  India's Power Demand Growth Slowed to Six-Year Low in FY 2025-26
  A milder 2025 summer and heavy rainfalls in the monsoon season later dragged down the growth in India's electricity consumption in the fiscal year ended March 2026 to the lowest level in six years. The electricity supplied by India's state power retailers... Read more A milder 2025 summer and heavy rainfalls in the monsoon season later dragged down the growth in India's electricity consumption in the fiscal year ended March 2026 to the lowest level in six years.
  
  The electricity supplied by India's state power retailers between April 2025 and March 2026 increased by less than 1% compared to the previous fiscal year, according to data from the country's Central Electricity Authority cited by Bloomberg.
  
  The growth was India's slowest since the 2020-2021 fiscal year when the Covid pandemic and related restrictions led to a rare decline in power use, of 1% from the previous fiscal year.
  
  India also saw in the 2025/2026 fiscal year the first decline in peak power demand for at least 20 years, according to the data.
  
  Historically, summer heat in the April to June quarter is the single biggest driver of Indian power demand growth -- the more extreme the temperatures are, the more electricity is consumed during these months.
  
  This year, power demand is expected to spike amid forecasts and expectations of higher than normal temperatures.
  
  India's coal demand from power plants is set to rise by 11.5% in the April to June quarter amid the peak electricity demand season in the country in May and June, sources with knowledge of the matter told the Economic Times earlier this month.
  
  India, the world's second-largest coal consumer and importer behind China, has enough coal supply to meet demand in the summer months, according to officials and analyst estimates.
  
  India's Power Minister last month ordered coal-fired power plants to run at full capacity for three months starting April 1, to be prepared to meet peak power demand during the coming summer.
  
  India is expected to see an all-time high peak summer demand of 270 gigawatts (GW Source: Oilprice.com
- 2026-04-20
  Labor Dispute in Australia Could Further Hinder Global LNG Supply
  A labor dispute could soon lead to industrial action at the Ichthys LNG plant offshore Western Australia, potentially further crippling global LNG supply at a time when 20% is already offline due to the missile strikes at Qatar's key plant and the closure... Read more A labor dispute could soon lead to industrial action at the Ichthys LNG plant offshore Western Australia, potentially further crippling global LNG supply at a time when 20% is already offline due to the missile strikes at Qatar's key plant and the closure of the Strait of Hormuz.
  
  The labor dispute has been brewing for days after the operator of Ichthys LNG, Japanese energy firm Inpex, proposed a new employment agreement that trade unions have slammed as 'sub-standard' in terms of wages and benefits.
  
  Employees have voted to reject the employment agreement in a ballot that Inpex pulled 21 hours prior to its scheduled close, the Offshore Alliance grouping of unions said.
  
  "A majority of eligible employees have cast their vote and the proposed agreement has not been endorsed," a spokesperson for Inpex told Reuters on Friday.
  
  The company will "continue to actively engage in the bargaining process in good faith and work collaboratively to address feedback from our workforce," the spokesperson added.
  
  Next week, union workers will also finish voting in a ballot to endorse a protected industrial action. The vote is scheduled to end on April 24.
  
  The threat of industrial action at an operating LNG export plant couldn't come at a worse time for global LNG supply.
  
  Currently, about 20% of global LNG supply is offline as no LNG tanker has left the Middle East since February 28, while U.S. LNG export capacity was maxed out even before the war began.
  
  In addition, Iranian drone and missile strikes on energy infrastructure in the region has damaged Qatar's key LNG liquefaction complex Ras Laffan.
  
  Qatar's state firm QatarEnergy expects the damage to the Ras Laffan LNG complex, the world's single largest LNG-producing facility, to cost it about $20 billion per year in lost revenue and to take up to five years to repair. Source: Oilprice.com

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