MABUX: Bunker Prices to Return to Higher Ground Next Week in International Shipping News 10/04/2026 The upward trajectory of bunker prices, driven by escalating tensions in the Middle East, reversed sharply on April 8 following reports of a two-week ceasefire. After an extended period of gains, global bunker indices entered a corrective phase, reflecting a shift in market sentiment. The 380 HSFO index declined by USD 18.17, falling from USD 801.67 per MT last week to USD 783.50 per MT, once again moving below the USD 800 threshold. The VLSFO index also decreased by USD 18.18, from USD 940.04 per MT to USD 922.86 per MT. Meanwhile, the MGO LS index recorded a more pronounced drop of USD 42.14, declining from USD 1635.44 per MT to USD 1593.30 per MT, and similarly breaking below the USD 1600 mark. At the time of writing, the global bunker market remains under downward pressure, with corrective dynamics continuing to dominate price movements. The MABUX Global Scrubber Spread (SS)—the price differential between 380 HSFO and VLSFO—edged up marginally by USD 0.99, rising from USD 138.37 last week to USD 139.36, and remaining well above the psychological breakeven threshold of USD 100.00. However, the weekly average of the index declined by USD 9.95, indicating underlying weakening momentum. In Rotterdam, the SS Spread remained unchanged at USD 40.00, although it briefly narrowed to USD 22.00 during the period. The port’s weekly average spread also decreased by USD 12.67, reflecting a softening trend. In Singapore, the SS Spread contracted more significantly, declining by USD 27.00 from USD 162.00 last week to USD 135.00, with an intraperiod low of USD 131.00. The weekly average spread in the port also dropped by USD 28.00. The corrective movements observed in the bunker market are likely to exert further downward pressure on the SS Spread. We expect the spread to continue narrowing in the coming week. For additional details, refer to the “Differentials” section on mabux.com. The Istanbul ECA Spread (ES) remained unchanged over the week at USD 100.00, despite peaking at USD 150.00 amid heightened market volatility. The weekly average declined by USD 10.00, indicating a partial easing of upward pressure. The Venice ECA Spread remains temporarily suspended due to the absence of consistent market quotations. Amid the ongoing de-escalation of tensions in the Middle East, the ECA Spread is expected to hold near current levels in the short term. Further details are available in the “Differentials” section on mabux.com. The ongoing military standoff in the Middle East continues to exert upward pressure on the EU gas market. A significant share of European gas imports originates from Persian Gulf producers, particularly Qatar. However, supply flows have been disrupted by Iranian attacks on regional energy infrastructure, with growing concerns that volumes may not fully recover even in the event of a near-term de-escalation. At the same time, tightening inventory levels are increasing the sensitivity of both European and Asian markets to weather-related demand fluctuations and unplanned outages. The spot market is also showing signs of reduced liquidity, as market participants increasingly shift toward the relative security of long-term contractual arrangements. As of April 7, the level of natural gas in European underground storage facilities recorded a marginal increase for the first time since the beginning of the year, reaching 28.61% of total capa