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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 498.00
-119.00
1 460.00
-6.00
Sep 22
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 498.00	-119.00	1 460.00	-6.00	Sep 22

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
694.36	+6.62	852.29	+8.00	1 549.02	+1.72	Sep 25

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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	610	732	-122	695	832	-137	1 460	1 675	-215	Sep 25
Singapore	723	775	-52	877	955	-78	1 340	1 668	-328	Sep 25
Fujairah	705	723	-18	990	896	+94	1 690	1 731	-41	Sep 25
Houston	560	689	-129	763	817	-54	1 440	1 500	-60	Sep 25

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Latest News
- 2026-09-25
  Oil prices drop about 3% as US, Iran explore path out of war
  Oil prices fell about 3% on Friday, on mounting hopes for a truce between the US and Iran, even as traders worried that increasing attacks against Saudi Arabia by Houthi fighters could disrupt supply from the Middle Eastern producer. Brent futures... Read more Oil prices fell about 3% on Friday, on mounting hopes for a truce between the US and Iran, even as traders worried that increasing attacks against Saudi Arabia by Houthi fighters could disrupt supply from the Middle Eastern producer.
  
  Brent futures rose $2.96, or 2.8%, at $103.64 a barrel by 12:12 p.m. EDT (1612 GMT). West Texas Intermediate (WTI) crude fell $2.86, or 3.0%, to $91.75.
  
  That put Brent down about 1% for the week and WTI down about 9%.
  
  US and Iranian negotiators in New York are exploring a phased path out of war that would involve Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iran, sources close to the talks said.
  
  In the Middle East, however, Saudi, Turkish and Pakistani military chiefs are to discuss help for Saudi Arabia as it faces attacks by Yemen’s Iran-aligned Houthis.
  
  "Diplomatic hopes are essentially helping oil prices weather the latest military strikes in the Middle East, with crude trading moderately softer despite the attacks," said Tim Waterer, chief analyst at KCM Trade.
  
  The Houthis have launched strikes on the Saudi-backed government in Yemen and repeatedly fired into Saudi Arabia, disrupting oil flows from the world’s largest energy exporter, as part of a wider Middle East war that began with US and Israeli strikes on Iran on February 28.
  
  Crude oil flows out of the Strait of Hormuz reached 33.7 million barrels in the week starting September 20, preliminary ship-tracking data from Kpler showed on Friday, putting exports roughly on track with the previous week’s levels.
  
  The traffic comprised 19 tankers, of which 17 are very large crude carriers (VLCCs) that can carry 2 million barrels of oil, the data showed. Most of the tankers are laden with crude from Saudi Arabia, followed by Iraq.
  
  Before the start of the Iran war, about 20% of the world’s oil supplies moved through the strait.
  
  In the US, Washington’s talk of a possible ban on diesel exports is widening the gap between US crude oil futures and the global Brent benchmark, a signal that markets expect US refiners to process less crude oil if their diesel output gets stuck at home.
  
  On Thursday, the premium of Brent crude over WTI rose to its highest since May for a second straight day.
  
  Separately, US President Donald Trump made clear during talks with Chinese President Xi Jinping that Chinese help for Iran is unacceptable, US Ambassador to China David Perdue said on Friday.
  
  Any agreements to reduce trade tensions between the US and China could boost economic growth and demand for energy.
  
  RUSSIAN AND UKRAINE
  
  The US has proposed that the United Arab Emirates host a trilateral meeting with Ukraine and Russia to discuss efforts to end their 4-1/2-year-long war, Ukrainian President Volodymyr Zelenskiy said.
  
  A drone attack damaged the Novoshakhtinsk oil refinery in Russia, forcing it to suspend operations temporarily, Governor Yuri Slyusar said.
  
  Heavy drone strikes on Russian refineries followed discussions at UN headquarters in New York on a potential energy-related ceasefire between Kyiv and Moscow.
  
  Any deal to end the Russia-Ukraine war could allow Russia to export more energy. Russia, an OPEC+ member, was the world’s third-biggest crude oil producer behind the US and Saudi Arabia in 2025, according to US energy data.
  
  Source: Reuters/Investing.com
- 2026-09-25
  DP World: ‘Geopolitical disruption, climate pressures and shifting manufacturing are redrawing global trade’
  In a whitepaper published to mark World Maritime Day (24 September), DP World’s Marine Services concluded that: ‘The next generation of global maritime trade will be defined not only by established routes, but increasingly by the strength, agility and... Read more
- 2026-09-25
  International Green Shipping Corridor Alliance launched in Beijing
  The International Green Shipping Corridor Alliance was launched this week during the Global Sustainable Transport Forum in Beijing, bringing together 45 companies from 12 countries across the shipping, ports and energy sectors. According to local media... Read more
- 2026-09-25
  Dangote set to break ground next week on planned Kenyan 700,000 b/d refinery
  A ground-breaking ceremony is set to take place on Wednesday, 30 September for the new 700,000 barrels a day (b/d) refinery that the Dangote Group is planning to build in Lamu, Kenya. The plans for the ceremony were reported by Reuters yesterday (24... Read more
- 2026-09-25
  Singapore fuel oil inventories increase 6% this month
  Singapore’s residual fuel oil stocks have averaged 6% higher so far in September than across August, Enterprise Singapore’s latest data shows. Changes in monthly average Singapore stocks from August to September (so far): Residual fuel oil stocks... Read more Singapore’s residual fuel oil stocks have averaged 6% higher so far in September than across August, Enterprise Singapore’s latest data shows.
  
  Changes in monthly average Singapore stocks from August to September (so far):
  
  Residual fuel oil stocks up 1.11 million bbls to 20.09 million bbls
  Middle distillate stocks up 160,000 bbls to 8.35 million bbls
  
  Singapore’s fuel oil stocks have risen above 20 million bbls, amid a 12% increase in net fuel oil imports so far in September.
  
  Fuel oil imports have increased by 145,000 bbls, while exports have declined by 189,000 bbls.
  
  Syria (13%) has been the largest source of Singapore’s fuel oil imports this month, followed by the UAE (10%) and Brazil (8%), according to cargo tracker Vortexa.
  
  On the export side, China (27%) has received the largest share of Singapore’s fuel oil cargoes, followed by Malaysia (22%) and South Korea (21%).
  
  Singapore’s middle distillate inventories have also increased by 2% this month to 8.35 million bbls.
  
  Changes in Singapore fuel oil trade from August to September (so far):
  
  Fuel oil imports up 145,000 bbls to 4.72 million bbls
  Fuel oil exports down 189,000 bbls to 1.67 million bbls
  Fuel oil net imports up 334,000 bbls to 3.04 million bbls
  
  Singapore’s bunker market remains tight, with recommended lead times for VLSFO at 13-17 days, almost unchanged from 13-16 days a week earlier.
  
  HSFO availability has improved slightly, with advised lead times easing to 9-12 days from 10-19 days last week. LSMGO supply has also strengthened, with lead times narrowing to 5-7 days from 6-8 days previously. Source: ENGIИE
- 2026-09-25
  Industry stakeholders urge EU to retain RED III binding RFNBO targets post-2030
  In an open letter to the President of the European Commission Ursula von der Leyen, 170 companies working across the European energy sector have argued that any removal of mandates and targets for the use of renewable fuels of non-biological origins (RFNBO)... Read more
- 2026-09-25
  The Week in Alt Fuels: The cold feet conundrum
  The energy sector is developing zero-emission bunker fuel supply and infrastructure to meet the IMO’s 2030 target of 5-10% uptake. But vessel orders and commercial demand are struggling to keep pace. The IMO wants zero- or near-zero-emission energy... Read more The energy sector is developing zero-emission bunker fuel supply and infrastructure to meet the IMO’s 2030 target of 5-10% uptake. But vessel orders and commercial demand are struggling to keep pace.
  
  The IMO wants zero- or near-zero-emission energy to account for at least 5% of international shipping’s energy consumption by 2030, striving for 10%.
  
  But the shipping industry still has a long way to go to meet this ambition, probably even further than two years ago.
  
  In September 2024, researchers at the UCL Energy Institute and the Getting to Zero Coalition, run by the Global Maritime Forum (GMF), found that fuel supply was partially on track but demand was lagging. Two years later, their September 2026 report suggests little has changed.
  
  “In several cases, progress has not only slowed relative to previous years but regressed,” the 2026 report said.
  
  The assessment focuses on e-methanol and e-ammonia as scalable zero-emission fuels (SZEF) with a well-to-wake GHG intensity below 19 gCO2e/MJ. It excludes e-methane because of its methane slip, as well as blue fuels produced from fossil feedstocks with carbon capture and storage.
  
  The report said production of SZEF still has the potential to catch up by 2030, but weakening demand from shipowners and cargo owners risks leaving that potential untapped.
  
  More ships, but where’s the demand?
  
  DNV data shows that five ammonia-capable vessels are now in operation, up from two in September 2024, with another 41 on order for delivery by 2030, compared with 28 two years ago.
  
  The operational methanol- and ethanol-capable fleet has roughly tripled from 53 to 160 vessels over the same period, but its orderbook has barely moved from 294 to 299.
  
  "The 2024 shift away from conventional fuels thus appears to have been a one-off pulse driven by a few large operators rather than a structural break in ordering behaviour," the GMF and UCL report noted.
  
  But more fuel-capable vessels do not necessarily translate into higher green fuel consumption. The GMF and UCL report's authors found that actual SZEF consumption on dual-fuel ships remains "negligible".
  
  Based on the current fleet and orderbook, vessels would have the capacity to consume only around 12 million mt/year of e-methanol and e-ammonia by 2030, measured in heavy fuel oil-equivalent. This falls short of the 15 million mt/year minimum needed to meet the IMO’s 5% target.
  
  Cargo owners tighten purse strings
  
  The other side of the demand equation doesn’t look much better.
  
  A Boston Consulting Group (BCG) survey of 125 cargo owners, published in April, found that the average green premium they were willing to pay fell to 3% in 2025 from 4.5% in 2024. The share of respondents prepared to pay more than 20% extra for low-emission fuels dropped to zero from 3% over the same period.
  
  Only 45% expected to be willing to pay a premium within the next five years, down from 65% in 2024.
  
  High fuel costs relative to their commercial benefits were the most frequently cited barrier, combined with wider regulatory and economic uncertainty.
  
  But waning willingness to pay does not mean all cargo owners have stopped paying for emissions reductions. Some are paying a premium for emissions reductions through book-and-claim arrangements, even if their own cargo travels on a conventionally fuelled vessel. These arrangements could help create demand for e-fuels.
  
  For instance, DP World will use Hapag-Lloyd's biofuel-based service to claim around 4,700 mtCO2e of emissions reductions. Gap will use Maersk's biofuel- or bio-methanol-based service to purchase reductions for its European trade lanes.
  
  Pooling demand offers another route.
  
  The Zero Emission Maritime Buyers Alliance (ZEMBA) pools demand from cargo owners including Amazon, DSV, Google and Microsoft. Its second tender will support Hapag-Lloyd's planned e-methanol deployment and North Sea Container Line's e-ammonia-powered service.
  
  Together, the shipping companies are expected to cut GHG emissions by around 120,000 mtCO2e over three years from 2027, with ZEMBA members purchasing the reductions through book-and-claim.
  
  How ready is ready?
  
  Shipowners are also keeping their fuel options open. Fuel-ready tonnage accounts for 2.48% of the active fleet, against just 0.77% already SZEF-capable, the GMF and UCL report's authors found.
  
  Höegh Autoliners recently ordered six LNG dual-fuel car carriers with notations for future conversion to ammonia and methanol, without specifying their level of readiness.
  
  But fuel-ready does not mean fuel-capable. Höegh’s vessels will run on LNG or conventional fuels until converted. Other fuel-ready ships may continue using conventional fuels. Shipowners could also choose not to convert them at all.
  
  And until the conversion takes place, these vessels cannot use the intended zero-emission fuels.
  
  "The failure to adopt the NZF [Net-Zero Framework] was the single most transition-regressive event we've seen in the five years this report has been running," said Pinar Langer, research fellow at the UCL Energy Institute.
  
  Regulatory certainty this year is what it will take to win back vessel orders and investment, Langer argued. The IMO's next chance to adopt the Net-Zero Framework comes in December.
  
  In other alt fuels news this week, US President Donald Trump has signalled that his administration intends to prevent the IMO from adopting a global emissions-pricing mechanism. "There is no global government - and while I am President, there will be no global taxes," he said.
  
  Class society American Bureau of Shipping has granted approval in principle to the design of a 22,000-cbm ammonia bunker vessel.
  
  Singapore-based global shipping company Eastern Pacific Shipping has taken delivery of an LPG dual-fuel very large ammonia carrier from China's Jiangnan Shipyard.
  
  Source: ENGIИE
- 2026-09-25
  Oil prices fall as markets look to Iran truce, but remain wary of attacks on oil facilities
  Oil prices fell slightly on Friday as markets weighed the possibility of a truce between the US and Iran against the bombing of Saudi Arabia by Houthi rebels after a week of price spikes. Brent was down 87 cents, or 0.82%, at $105.73 a barrel at 0212... Read more Oil prices fell slightly on Friday as markets weighed the possibility of a truce between the US and Iran against the bombing of Saudi Arabia by Houthi rebels after a week of price spikes.
  
  Brent was down 87 cents, or 0.82%, at $105.73 a barrel at 0212 GMT, while West Texas Intermediate (WTI) was down $1.56, or 1.65%, at $93.05 a barrel.
  
  The sluggish opening was a contrast to a week of volatility when oil prices rose to a one-week high on Thursday. Both contracts rose as much as 5%. Brent settled up 3.4% and WTI was 2.7% higher.
  
  Brent notched its highest close since September 15. It was the first rise in days for WTI, which was down 13% over the prior six sessions and is down 6.42% for the week, compared with Brent’s 2.09% rise.
  
  The spread between Brent and WTI is the widest it has been since May at $12.68 when it was over $13.
  
  Fears of a US ban on diesel exports that could flood the domestic market are largely responsible for the price bifurcation, given that the two benchmarks usually rise and fall in tandem, despite the US contract usually selling for a discount.
  
  "The unusually wide WTI-Brent spread also reflects the different regional risk profiles at play," said Tim Waterer, chief analyst at KCM Trade.
  
  US and Iranian negotiators in New York are exploring a phased path out of war that would involve Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iran, sources close to the talks said this week.
  
  Since the war began at the end of February, around a fifth of the world’s oil and gas shipments have been curtailed, pushing up prices by 50% in March alone while driving liquefied natural gas buyers to look further afield for new, stable supplies of the super-chilled fuel.
  
  On Thursday, Iranian President Masoud Pezeshkian said it was up to the US to choose when the Iran war will end.
  
  "It’s America that must choose whether it wants to end this or not," Pezeshkian said, responding to a question in an interview aired on Thursday on Fox News.
  
  Saudi Arabia intercepted six ballistic missiles fired by Yemen’s Iran-backed Houthis, thwarting attacks on the southern province of Taif and the Yanbu area on the Red Sea, the Saudi-led coalition in Yemen said.
  
  Ongoing attacks “serve as a clear reminder that critical oil assets remain firmly in the firing line,” Waterer said.
  
  Saudi Arabia is building up crude pumping volumes through its East-West Pipeline that runs to its Red Sea export hub of Yanbu, although crude tanker loadings have yet to resume, according to industry sources, satellite imagery and shipping data. Source: Reuters/Investing.com
- 2026-09-25
  Why Are Diesel Prices So High?
  Some claims making the rounds on social media start with an observation that is basically correct: crude oil was more expensive after Russia invaded Ukraine in 2022 than it is today, yet diesel prices are now higher. The conclusion often attached to that... Read more Some claims making the rounds on social media start with an observation that is basically correct: crude oil was more expensive after Russia invaded Ukraine in 2022 than it is today, yet diesel prices are now higher. The conclusion often attached to that comparison is that refiners must be gouging consumers. It sounds plausible because crude oil is the main raw material used to make diesel. But it leaves out the critical part of the market that has become the real bottleneck: refining.
  
  As of September 20, AAA put the national average diesel price at about $6.50 a gallon, a nominal record. California was above $8.40, and a handful of stations have even displayed $9.999, the maximum price some pumps can show. Meanwhile, Brent crude is trading well below the inflation-adjusted peaks reached during previous oil crises. So, the basic question behind the claims is fair: If crude is not at a record, why is diesel?
  
  The answer is that crude oil and diesel are related, but they are not interchangeable. Crude is an input. Diesel is a manufactured product. Between the wellhead and the fuel pump sits the refining system, and right now the world has a shortage of available diesel relative to demand. That allows diesel prices to rise even if crude prices stabilize or fall.
  
  The Refining Margin
  
  One way to see the pressure in the diesel market is through the diesel crack spread, which measures the difference between the market value of diesel and the crude oil used to produce it. That spread is sometimes described loosely as a refinery margin, but it should not be confused with a simple markup that refiners can set at will. It is determined by market prices for crude oil and refined products, and it can widen sharply when diesel becomes scarce relative to crude.
  
  In mid-August, the U.S. diesel crack spread briefly topped $100 per barrel for the first time, a record. Asian diesel refining margins recently rose above $87 per barrel, compared with roughly $22 before the current Middle East conflict, according to Reuters. Those extraordinary spreads certainly mean refiners that are operating reliably can earn much more money.
  
  But they are also evidence that the market value of diesel has risen far faster than the value of crude because refined-product supply has become unusually tight. A high crack spread, by itself, does not tell us whether the cause is manipulation, deliberate withholding, refinery outages, export disruptions, or some combination of supply and demand.
  
  That distinction is why comparing today’s crude price with the 2022 crude price can be misleading. If crude falls by $10 per barrel while the diesel crack spread rises by $20, the raw material has become cheaper but the finished product can still become more expensive.
  
  To argue that the wider spread indicates gouging, you would need additional evidence that refiners were deliberately restricting available production or coordinating prices. In the current market, the opposite is more evident: U.S. refineries have been running at very high utilization rates while global diesel supplies have been disrupted by refinery outages, war, and export constraints.
  
  Why Diesel Is So Tight
  
  Several disruptions have hit diesel supply at the same time. Ukrainian drone attacks have forced major Russian refineries to reduce output or shut units, and Russia has restricted some fuel exports to protect domestic supplies. Russia is normally one of the world’s largest exporters of diesel and gasoil, so losing part of that supply has effects far beyond Russia itself.
  
  The Middle East has added another major shock. Refining and export infrastructure has been damaged or disrupted during the conflict with Iran, while shipping through the Strait of Hormuz has been severely constrained. Reuters estimates that disruptions involving Russia and the Persian Gulf have removed roughly 1.6 million barrels per day of diesel and gasoil exports compared with earlier this year. That is an enormous loss in a market that had little spare capacity to begin with.
  
  U.S. refinery closures are part of the story too, but some of the claims circulating online overstate what happened. U.S. operable refining capacity reached nearly 19 million barrels per day at the start of 2020, then fell sharply during the pandemic. According to the Energy Information Administration, capacity stood at about 18.16 million barrels per day at the start of 2026 and about 18.03 million barrels per day by June after additional closures. That is a meaningful reduction from the 2020 peak and it leaves the system with less cushion when disruptions occur.
  
  However, it is not accurate to say U.S. refining capacity simply fell every year after 2020 or that refiners collectively removed capacity in order to manufacture scarcity. EIA data show that capacity actually recovered somewhat between 2022 and 2025 as existing refineries expanded. Individual closures had different causes, including poor economics, conversions to renewable-fuel production, storm damage, aging facilities, and regional regulatory pressures.
  
  The important point is that the data do not show a coordinated effort by refiners to withhold capacity and manufacture scarcity. But it is certainly true that the United States now has less refining capacity than it had at the 2020 peak, while the global market has simultaneously lost significant output elsewhere.
  
  Are Refiners Gouging Consumers?
  
  High refining margins unquestionably mean refiners are making a lot of money. Marathon Petroleum, Valero, and Phillips 66 collectively earned $12.6 billion in the second quarter as global fuel shortages widened margins, according to Reuters. That has understandably attracted attention, especially as consumers pay record prices.
  
  But high profits do not by themselves demonstrate price gouging. The same price signal that hurts consumers and incentivizes conservation also tells refiners to run harder and produce more fuel. U.S. refineries have recently been operating near practical capacity, and distillate production has been strong.
  
  One test of the claim that refiners are deliberately withholding production is whether substantial usable capacity is sitting idle. That is not what the current data show. Recent weekly EIA data put refinery utilization as high as 98%, near the upper end of the historical range. And through the first six months of 2026, refinery gross inputs were only 1.1% below the pre-COVID year of 2019.
  
  That does not mean refinery closures are irrelevant. They reduced the margin for error. When Russian refineries are damaged, Middle Eastern exports are disrupted, or a U.S. refinery goes down unexpectedly, there are fewer spare facilities available to replace the lost barrels. That makes price spikes larger than they might have been in a system with more excess capacity.
  
  Why Oil Can Fall While Diesel Stays High
  
  Crude and refined products respond to different supply-and-demand balances. Oil prices can fall because crude inventories rise, demand weakens, or producers find new ways to move barrels around transportation bottlenecks. None of those developments automatically repairs a damaged refinery or creates additional diesel production.
  
  That is the key to understanding today’s market. The world may have enough crude oil to keep Brent from returning to its highest historical levels, but it does not currently have enough readily available refining capacity and diesel exports to keep distillate prices from reaching records. The two markets can therefore move in opposite directions for extended periods.
  
  There is a legitimate debate to be had about U.S. refining policy, the loss of domestic capacity, and whether the country should create stronger incentives to maintain or expand refining infrastructure. But the simple claim that lower crude prices combined with higher diesel prices proves gouging does not hold up. The refining system between the oil field and the fuel pump matters, and right now that is where the pressure is greatest.
  
  Until damaged refineries return to service, global diesel exports recover, inventories rebuild, or demand weakens materially, diesel prices can remain painfully high even if crude oil prices move lower. Source: Oilprice.com
- 2026-09-25
  MABUX: Global bunker market to show mixed dynamics on Sep. 25 amid uncertainty over U.S.-Iran diplomacy.
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – resumed its upward trend on Sep. 24: 380 HSFO: USD/MT: 687.74 (+0.48) VLSFO: USD/MT: 844.29 (+6.38) MGO: USD/MT: 1 547.30 (+16.06) As of... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – resumed its upward trend on Sep. 24:
  
  380 HSFO: USD/MT: 687.74 (+0.48)
  VLSFO: USD/MT: 844.29 (+6.38)
  MGO: USD/MT: 1 547.30 (+16.06)
  
  As of Sep. 24, the MABUX Market Differential Index (MDI), which monitors the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP), showed the following dynamics across the four major global bunkering hubs—Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Fujairah remained the only overvalued port, with its MDI premium declining by $21 and moving closer to the 100% correlation mark between MBP and DBP. The other three hubs were undervalued. MDI discounts narrowed by $6 in Rotterdam, falling below the $100 threshold, while widening by $32 in Singapore and $2 in Houston. Undervaluation in Houston stayed above the $100 mark.
  
  • VLSFO segment: Fujairah remained the only overvalued port, with its MDI premium declining by another $24. The other three hubs continued to be undervalued. MDI discounts widened by $19 in Rotterdam, moving above the $100 threshold, by $23 in Singapore and by $8 in Houston. Fujairah's overvaluation was above the $100 mark.
  
  • MGO LS segment: Fujairah shifted back into the undervaluation zone, leaving all four major hubs underpriced. MDI discounts widened by $55 in Rotterdam, $38 in Singapore and $21 in Fujairah, while narrowing by $21 in Houston. Undervaluation levels in Rotterdam and Singapore remained above the $100 mark, while Houston moved below this threshold. Fujairah's MDI moved close to the 100% correlation line between MBP and DBP.
  
  MABUX expects Global bunker market to show irregular dynamics on Sep. 25 amid uncertainty over U.S.-Iran diplomacy and restricted oil flows in Hormuz:
  380 HSFO: plus-minus 5-10 USD/MT, VLSFO: plus-minus 5-10 USD/MT, MGO LS: plus-minus 5–25 USD/MT.
  Source: MABUX

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