The global bunker market remained volatile during Week 23, with fuel indices moving in different directions amid ongoing uncertainty surrounding prospects for a resolution of the conflict in the Middle East, Sergey Ivanov, Director at MABUX, noted. The MABUX 380 HSFO Index declined by US$9.99, falling from US$728.71/MT last week to US$718.72/MT. In contrast, the MABUX VLSFO Index posted a modest gain of US$1.39, rising from US$865.57/MT to US$866.96/MT. Meanwhile, the MABUX MGO LS Index decreased by US$13.02, dropping from US$1,304.84/MT to US$1,291.82/MT and falling below the US$1,300.00/MT threshold for the first time since March 6, 2026. At the time of writing, Ivanov explained that bunker fuel prices were showing signs of renewed upward momentum, suggesting a potential recovery phase following the week’s mixed performance. The MABUX Global Scrubber Spread (SS) — the price differential between 380 HSFO and VLSFO — widened by US$11.38 during the week, increasing from US$136.86 to US$148.24. The index continued its upward trajectory, approaching the US$150.00 mark and remaining comfortably above the key breakeven threshold of US$100.00. At the same time, the weekly average of the Global SS Spread edged down marginally by US$0.98. In Rotterdam, the SS Spread gained a further US$18.00, rising from US$88.00 last week to US$106.00 and once again moving above the US$100.00 level. The port’s weekly average SS Spread increased significantly by US$29.66, reflecting improving scrubber economics. By contrast, in Singapore, the 380 HSFO/VLSFO differential narrowed slightly by US$2.00, declining from US$150.00 to US$148.00. Nevertheless, the weekly average SS Spread in the port increased by US$2.50. Although regional dynamics remained mixed, the Global SS Spread demonstrated overall stability throughout the week and consistently held above the US$100.00 breakeven level. This continued to support the economic advantage of operating vessels equipped with scrubbers and consuming