MABUX: Bunker Prices Ready to Move Higher Next Week in International Shipping News 27/02/2026 At the close of Week 09, global bunker indices under the MABUX assessment continued their upward trajectory. The 380 HSFO index rose by USD 17.98, increasing from USD 434.70/MT last week to USD 452.68/MT, surpassing the USD 450.00 threshold. The VLSFO index gained USD 25.77, climbing to USD 548.39/MT compared to USD 522.62/MT a week earlier. The MGO LS index posted the most significant increase, advancing by USD 34.53 from USD 779.43/MT last week to USD 813.96/MT, thereby exceeding the USD 800.00 mark. At the time of writing, the global bunker market maintains upside potential, supported by prevailing bullish sentiment and continued strength across the fuel complex. The MABUX Global Scrubber Spread (SS) — the price differential between 380 HSFO and VLSFO — demonstrated firm growth over the week, rising by $7.79 from $87.92 to $95.71, approaching the psychological $100.00 breakeven threshold. The average weekly value of the index also increased by $4.10. In Rotterdam, the SS Spread edged up by $2.00, reaching $52.00 compared to $50.00 the previous week, thereby exceeding the $50.00 level. The port’s average weekly SS Spread rose by $4.33. Singapore recorded the most pronounced weekly increase, with the 380 HSFO/VLSFO differential surging by $33.00 — from $41.00 to $74.00. The average weekly SS Spread in Singapore expanded by $15.17. By the end of the week, a stable upward trend in the SS Spread had formed across the global bunker market. Nevertheless, index values remain below the $100.00 mark, preserving the relatively stronger economic attractiveness of VLSFO compared to the 380 HSFO + scrubber combination. We expect the upward momentum in the SS Spread to persist into the coming week. More detailed information is available in the “Differentials” section at mabux.com. By the end of the week, the Istanbul ECA Spread (ES) increased by $15.00, rising from $85.00 last week to the psychological threshold of $100.00. The weekly average also advanced by $13.34. In Venice, the ECA Spread gained $5.00, moving from $87.00 to $92.00. However, the port’s weekly average edged down slightly by $0.33. The ES indices in both ports are showing gradual recovery, supporting renewed demand for conventional ULSFO. We expect the ECA Spread to retain further upside potential in the coming week. More detailed information is available in the “Differentials” section at mabux.com. EU gas markets in early 2026 are characterized by significantly reduced Russian exposure, increased reliance on LNG imports, structurally moderated demand, and relative price stabilization. Nevertheless, the market remains vulnerable to weather variability and geopolitical uncertainties. EU underground gas storage is expected to recover steadily through the summer 2026 injection season, provided demand remains contained, and LNG inflows stay robust, thereby supporting supply adequacy ahead of the 2026–27 winter. However, inventories started the year at comparatively lower levels than in previous seasons, leaving the system more sensitive to adverse weather conditions and potential supply disruptions before the refill cycle is fully completed. As of February 24, natural gas inventories in European underground storage facilities continued to decline, reaching 30.59% of total capacity — a further decrease of 2.43 percentage points compared to the previous week. Storage levels are now 30.87 percen