Mabux: Global Bunker Prices

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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 883.00
0.00
1 380.00
-25.00
Nov 3
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 883.00	0.00	1 380.00	-25.00	Nov 3

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
756.97	-18.74	895.11	-17.18	1 495.51	-20.29	Nov 3

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MABUX Market Differential Index (MDI)

Correlation between market bunker prices (MBP) and MABUX Digital Bunker Price Benchmark (DBP)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	Date
Rotterdam	675	720	-45	755	819	-64	1 380	1 567	-187	Nov 3
Singapore	870	759	+111	975	936	+39	1 240	1 560	-320	Nov 3
Fujairah	733	710	+23	965	881	+84	1 660	1 623	+37	Nov 3
Houston	570	698	-128	805	830	-25	1 350	1 406	-56	Nov 3

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Digital Bunker Prices
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Analytical Section
- Daily and Weekly Bunker analyses and Future Curves
- World and regional Bunker indices
- Bunker Price Forecast for 40+ ports
- Digital Bunker Prices
MABUX for Industry
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Latest News
- 2026-11-03
  Oil prices slide about 2% to multi-week low amid peace talks
  Oil prices slid about 2% to a three-week low on Tuesday in volatile trade as the market weighed talks to end the wars in Ukraine and Iran against worries about additional supply disruptions from recent attacks in both conflicts. The world is also... Read more Oil prices slid about 2% to a three-week low on Tuesday in volatile trade as the market weighed talks to end the wars in Ukraine and Iran against worries about additional supply disruptions from recent attacks in both conflicts.
  
  The world is also watching to see what verdict American voters deliver on the first two years of US President Donald Trump’s second term in Tuesday’s midterm elections. Opinion polls and nonpartisan analysts favor Democrats to wrest the House of Representatives from Republicans, while Senate control remains uncertain.
  
  What supply signals would confirm a lasting oil-market shift?
  
  How could peace talks reshape LCO supply expectations?
  Brent futures fell $1.63, or 2%, to $103.14 a barrel at 10:44 a.m. ET (1544 GMT), while US West Texas Intermediate crude fell 67 cents, or 1%, to $95.79.
  
  Brent was on track for its lowest close since October 7 and WTI was headed for its lowest close since October 14.
  
  Iran and the United States are still far from a deal to end their war, a senior Iranian official told Reuters, while mediator Qatar stepped up efforts to bridge differences and avert a renewed escalation after the US midterm elections.
  
  Qatar’s Foreign Ministry spokesperson said the US and Iran remain committed to mediation efforts and are reviewing proposals aimed at bridging their differences.
  
  "Despite these positive signals, it’s probably too early to think escalation risks have passed," ING said in a note. "What is clear, though, is that strong signals of progress in peace talks would mean more downside for prices."
  
  Overnight, the US carried out strikes on Iran’s Qeshm Island, with a US official saying the strikes targeted surface-to-air missiles used against US assets. Another official said the strikes appeared limited and did not signal a return to major combat operations.
  
  Separately, Trump said he made a deal with Israeli Prime Minister Benjamin Netanyahu that Washington would stop $4 billion in funding to Israel after the end of this year.
  
  Saudi state oil company Aramco is working to expand a crude pipeline that circumvents the Strait of Hormuz, CEO Amin Nasser said.
  
  How unusual is Brent’s larger decline versus WTI?
  
  How significant are the reported attacks to regional oil supply?
  The effective blockade of the chokepoint that links the Gulf to world markets, previously a conduit for 20% of global oil supplies, has redrawn energy flows and infrastructure investment priorities among the region’s oil producers.
  
  RUSSIA AND UKRAINE
  
  Russia will hold three-way peace talks with Ukraine and the United States in Abu Dhabi from November 10 to 11, the Kremlin confirmed.
  
  Russia was the world’s third-biggest crude oil producer behind the US and Saudi Arabia in 2025, US energy data showed. Sanctions designed to keep Russian energy out of global markets after Moscow’s invasion of Ukraine have helped support oil prices.
  
  Any deal to end Russia’s invasion of Ukraine, which Moscow launched in 2022, could allow Russia to export more.
  
  Ahead of the upcoming talks, however, Russia bombarded Ukraine’s energy infrastructure, knocking out power to swathes of the country with dozens of missiles and hundreds of drones.
  
  Advertisement
  Ukraine set fire to a major oil refinery in the Russian city of Yaroslavl in an overnight drone attack, the regional governor said.
  
  Recent attacks on cargo ships near NATO members Romania and Bulgaria show how the escalating maritime war between Russia and Ukraine is expanding into a major challenge for NATO in the Black Sea.
  
  US OIL STOCKPILES
  
  The oil market is awaiting weekly storage reports from the American Petroleum Institute trade group on Tuesday and the US Energy Information Administration on Wednesday.
  
  Analysts estimate energy firms added 2 million barrels of crude to US storage during the week ended October 30.
  
  If correct, it would mark the first time crude stocks have increased in five weeks and compare with an increase of 5.2 million barrels in the same week last year. [EIA/S] [API/S] Source: Reuters/Investing.com
- 2026-11-03
  Aramco posts $31 billion Q3 adjusted net income
  Saudi Arabia’s Aramco has today (3 November) posted an adjusted net income of $31.198 billion for the third quarter (Q3) of this year, compared to $33.385 billion for the preceding quarter and $28.581 billion for Q3 2025. Commenting on the results,... Read more
- 2026-11-03
  Danish delegation visit to India will explore shipping collaboration opportunities
  Green shipping is high on the agenda for a Danish business delegation arriving in India this week, and the schedule will include visits to both APM Terminals Mumbai and the Mazagon Dock shipyard Danish-operated ships made more than 3,000 calls at Indian... Read more
- 2026-11-03
  Biofuel’s ‘high stakes’ in the spotlight during ARACON fuel quality session
  Although the general quality of bunker fuel has not changed dramatically in recent years, panellists at a fuel quality session at ARACON told delegates that biofuels are bringing a new dynamic to the market, with higher costs and higher stakes. The... Read more
- 2026-11-03
  Silverstream joins Copenhagen-based decarbonisation hub
  Maritime efficiency company Silverstream has joined the Mærsk Mc-Kinney Møller Centre for Zero Carbon Shipping as a Mission Ambassador and will contribute its engineering and operational expertise to the Centre’s work on energy efficiency technologies. Commenting... Read more
- 2026-11-03
  Australia’s ‘first’ green ammonia ship-to-ship bunkering takes place at Port of Hedland
  A green ammonia ship-to-ship bunkering operation has taken place at the Port of Hedland, in what the Pilbara Ports, Fortescue and CMB.TECH say is an ‘Australia first’, involving the fuelling of the ‘world’s first ammonia-powered dry bulk vessel’ Mineral... Read more
- 2026-11-03
  Envision supplies green ammonia for world’s first VLAC
  Envision has provided green ammonia for the bunkering of the Terra Clove, the world’s first Very Large Ammonia Carrier (VLAC) equipped with dual-fuel ammonia propulsion and operated by Eastern Pacific Shipping (EPS). As reported by ship.energy, on... Read more
- 2026-11-03
  Oil edges up after report of US strike on Iran’s Qeshm Island
  Oil prices edged up on Tuesday after a report that the United States had struck Iran’s Qeshm Island, raising concerns about an escalation of the eight-month conflict and prolonged disruptions to Middle East oil supplies. US West Texas Intermediate... Read more Oil prices edged up on Tuesday after a report that the United States had struck Iran’s Qeshm Island, raising concerns about an escalation of the eight-month conflict and prolonged disruptions to Middle East oil supplies.
  
  US West Texas Intermediate crude was up 20 cents, or 0.21%, at $96.66 a barrel while Brent crude futures rose 3 cents, or 0.03%, to $104.8 a barrel by 0355 GMT.
  
  Both benchmark prices dropped more than 7% on Monday as talks between Iranian and Qatari officials lifted hopes for an end to the US-Israeli war with Iran.
  
  The United States struck Iran’s Qeshm Island, the Wall Street Journal reported on Tuesday, citing US officials. Some of the officials described the assaults as defensive in nature to prevent Iran from having the freedom to attack commercial ships in the Strait of Hormuz.
  
  "The report added a degree of risk premium back into the oil price. Just when markets were starting to price in a more diplomatic path, this reminder of ongoing military activity has flipped the tone," said Tim Waterer, chief market analyst at KCM Trade.
  
  However, the inability of prices to sustain those gains suggests that a substantial geopolitical risk premium is already embedded in oil prices, said Priyanka Sachdeva, head of market insight at Phillip Nova.
  
  "Unless there is concrete evidence of further disruption to physical supplies or critical energy infrastructure, fresh headlines alone may struggle to sustain another rally."
  
  Meanwhile, Tehran said on Monday that contacts between Iran and the US to end their war are continuing, after days of Iranian talks with Qatari mediators ended with altered proposals but no breakthrough.
  
  Trump raised doubts on Monday about whether he would follow through on a threatened resumption of military strikes against Iran and said a deal with Tehran could happen.
  
  The US-Iran conflict that began in late February has sharply reduced traffic through the Strait of Hormuz, which previously carried about a fifth of global crude oil and natural gas supplies.
  
  The Iran war is a leading cause of high gasoline prices that are weighing on voters, and Trump is under pressure to end the conflict.
  
  Brent ended October at its highest in six months on concerns that the Middle East conflict could escalate again after Tuesday’s US midterm elections.
  
  Iranian President Masoud Pezeshkian said Supreme Leader Ayatollah Mojtaba Khamenei had granted the government certain authorities for peace talks.
  
  Additionally, the US will bring together delegations from Ukraine and Russia in Abu Dhabi on November 10 to 11 to discuss ending Moscow’s war against Ukraine, post-war security agreements and de-escalation.
  
  Source: Reuters/Investing.com
- 2026-11-03
  Questions Mount Over Venezuela’s Biggest Oil Deal
  “The biggest oil deal in world history” between the Trump Administration and North American Blue Energy Partners may not live up to the hype as the privately held and previously little-known company could face steep challenges in developing Venezuela’s... Read more “The biggest oil deal in world history” between the Trump Administration and North American Blue Energy Partners may not live up to the hype as the privately held and previously little-known company could face steep challenges in developing Venezuela’s huge oil resources, Reuters reported, citing more than a dozen oil workers, contractors, and experts from the industry.
  
  Following the capture of Nicolas Maduro by U.S. forces in January, the U.S.-backed interim Venezuelan government has made changes to the legal, regulatory, and commercial frameworks, which has started to attract a broad pool of investors in its oil industry. Eni, Repsol, and Halliburton, to name a few, are back with deals to develop and help drill oilfields.
  
  U.S. supermajor Chevron has pledged over $7 billion in investment over the next five years to more than double its production in Venezuela to about 600,000 barrels per day (bpd) by 2031.
  
  The new oil order in Venezuela also includes North American Blue Energy Partners (NABEP), the company led by Venezuela-born businessman Alejandro Betancourt and involved in “the biggest oil deal in world history”.
  
  As much as $100 billion in investment could be involved in new oil infrastructure after the interim Venezuelan authorities granted NABEP 100-year concessions for 17 oilfields with proven reserves of approximately 65 billion barrels, according to the White House.
  
  Yet, NABEP could face challenges in hiring workers, competing for rigs, and securing capital to develop the huge resources in Venezuela, Reuters reported last week.
  
  The company disputed Reuters’ article, saying that the publication, even after receiving a detailed response to questions, ran only the parts that suited its “biased narrative” to question whether NABEP could deliver on its goals.
  
  This weekend, NABEP said its in-country fleet in Venezuela would reach in November a total of 41 of the 60 rigs announced in October.
  
  Currently, NABEP has nine drilling rigs that bore new wells in Venezuela. Three are active in the Junín 10 block of the Orinoco Belt, three more will start there soon, and three are being refurbished or moved into position. Four more rigs are being shipped from Houston, Brazil, and Colombia, the company said.
  
  “We are paying for every one of these rigs with the oil we produce. It’s the same reinvestment strategy we used to successfully grow production tenfold in two years,” NABEP CEO Alejandro Betancourt said in a statement.
  
  NABEP said it had boosted its oil production in Venezuela from 18,000 bpd to 223,000 bpd in two years via about $1 billion in company-funded investment.
  
  “NABEP controls the rights to commercialize more than 65 billion barrels of P1 oil reserves in Venezuela and plans to invest nearly $100 billion to increase production capacity and improve oil-and-gas infrastructure,” said the company, adding that its near-term goal is to increase production to more than 1 million barrels of oil per day.
  
  In the rebuttal to Reuters’ article, NABEP said its “business plan doesn’t currently contemplate raising outside funding or offering new equity stakes. We’ve already proven we can grow without outside money, and that's our focus for the time being: we’re reinvesting hundreds of millions of dollars more into expanding production with every passing month.”
  
  The closely-held company hasn’t released many details about how it is financing the operations.
  
  “NABEP’s $100 billion figure represents a long-term funding requirement, not committed near-term capital, and the company has not disclosed a detailed financing structure,” intelligence firm Rystad Energy said in September.
  
  At any rate, oil production in Venezuela is set to grow, not only from NABEP and Chevron, but from other companies that are returning or setting foot in Venezuela.
  
  Continental Resources, for example, has announced a Memorandum of Understanding with state oil firm PDVSA to operate and develop the Ayacucho 2 Block in the prolific Orinoco Oil Belt. Ayacucho 2, which Continental Resources will operate with a 100% interest, has an estimated 30 billion barrels of resource in place.
  
  Italy’s Eni signed a strategic contract in Venezuela to become the operator of the giant Junín-5 oil field in the Orinoco Belt. Junín-5, a heavy oil field containing 35 billion barrels of certified oil in place, currently produces around 12,000 bpd.
  
  BP, ADNOC’s international energy investment company, XRG, and Qatar’s UCC Oil and Gas Holding were awarded a license for the Loran offshore gas field in Venezuela, which is northeast of the Orinoco Delta and near Venezuela’s maritime boundary with Trinidad and Tobago. Source: Oilprice.com
- 2026-11-03
  MABUX: Global bunker market set to decline on Nov. 03.
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – declined on Nov. 02 amid easing concerns over potential supply disruptions in the Middle East: 380 HSFO: USD/MT: 775.71 (-6.58) VLSFO: USD/MT:... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – declined on Nov. 02 amid easing concerns over potential supply disruptions in the Middle East:
  
  380 HSFO: USD/MT: 775.71 (-6.58)
  VLSFO: USD/MT: 912.29 (-3.82)
  MGO: USD/MT: 1 515.80 (-9.89)
  
  As of Nov. 02, the MABUX Market Differential Index (MDI), which measures the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP), registered the following trends across the four major global bunkering hubs—Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Singapore remained the only overvalued hub, with its MDI premium narrowing by $40. The other three ports continued to be undervalued, with MDI discounts widening by $24 in Rotterdam, $25 in Fujairah, and $31 in Houston. MDI discounts in Rotterdam and Houston reached the $100 mark.
  
  • VLSFO segment: Fujairah returned to the undervalued zone, leaving all four hubs underpriced. MDI discounts widened across the board: by $24 in Rotterdam, $29 in Singapore, $31 in Fujairah, and $17 in Houston. Rotterdam's MDI discount remained above the $100 threshold.
  
  • MGO LS segment: Fujairah shifted back into the undervalued zone, bringing all four hubs into underpricing territory. MDI discounts widened by $39 in Rotterdam, $76 in Singapore, and $49 in Fujairah, while narrowing by $13 in Houston. Discounts in Rotterdam and Singapore remained above the $100 mark, while Fujairah hovered near the 100% correlation level between MBP and DBP.
  
  MABUX expects the global bunker market to extend its downward trend on Nov. 03, following a sharp decline in oil prices the previous day:
  380 HSFO: minus 10-20 USD/MT, VLSFO: minus 10-20 USD/MT, MGO LS: minus 10–25 USD/MT.
  Source: MABUX

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