MABUX: Global Bunker Prices on the Rise in International Shipping News 12/03/2026 Global bunker fuel prices surged by approximately 30–35% over the past week, driven by the escalation of tensions between the United States and Iran and the effective closure of the Strait of Hormuz, a key global oil transit chokepoint. The disruption triggered a sharp rally in crude oil markets, pushing major benchmarks to multi-year highs and significantly increasing volatility across the global energy complex. Against this backdrop, bunker fuel indices recorded substantial gains across all segments. The MABUX Global 380 HSFO Index rose by USD 159.82, increasing from USD 575.57/MT last week to USD 735.39/MT. The VLSFO Index posted an even stronger advance, climbing by USD 199.41, from USD 670.31/MT to USD 869.72/MT. The MGO LS Index also experienced a sharp increase, rising by USD 186.34, from USD 1043.18/MT last week to USD 1229.52/MT. During the week, the index briefly exceeded the USD 1300.00/MT level, marking the highest value recorded since the start of MABUX data tracking in 2001. At the time of writing, the global bunker market has resumed its upward trajectory, reflecting persistent uncertainty in oil supply routes and continued pressure on energy prices. The MABUX Global Scrubber Spread (SS) — the price differential between 380 HSFO and VLSFO — increased sharply during the week, rising by USD 39.59, from USD 94.74 last week to USD 134.33. The spread significantly exceeded the psychological threshold of USD 100.00 (SS Breakeven), indicating a notable shift in the relative economics of scrubber-equipped vessels. The weekly average of the global SS index also increased by USD 9.71. In Rotterdam, the SS Spread rose by USD 10.00, from USD 38.00 last week to USD 48.00, remaining close to the USD 50.00 level. At the same time, the weekly average SS Spread in the port decreased by USD 2.66, reflecting uneven price dynamics during the week. In Singapore, the 380 HSFO/VLSFO differential recorded the most significant increase, driven by an acute fuel shortage at the hub. The spread surged by USD 133.00, from USD 72.00 last week to USD 205.00, at one point briefly reaching USD 250.00. The weekly average SS Spread in Singapore rose by USD 73.33, highlighting the severity of supply disruptions in the region. Overall, the SS Spread ended the week sharply higher, primarily influenced by fuel supply disruptions and heightened volatility amid the escalating conflict in the Middle East. Given the current market conditions, the SS Spread may continue to strengthen in the coming week. More detailed information is available in the “Differentials” section on mabux.com. At the end of the week, the ECA Spread (ES) in Istanbul recorded a decline of USD 75.00, falling from USD 225.00 last week to USD 150.00. However, amid the high volatility in the bunker market, the ES temporarily surged to peak levels of around USD 400.00 during the week. At the same time, the weekly average value of the index increased by USD 123.33, reflecting sharp fluctuations in distillate prices. In Venice, the ECA Spread remained at USD 105.00. However, due to the lack of regular quotations caused by limited fuel availability, this level should be considered indicative rather than fully representative of actual market conditions. The Istanbul ES index reflects a sharp increase in marine gasoil prices in the regional bunker market, driven by escalating military tensions in the Middle East, which h