16.4 C
Hamburg
Sunday, June 1, 2025
Home The Weekly MABUX Bunker Index MABUX bunker index – 8 April

MABUX bunker index – 8 April

Global fuel prices continue to fluctuate among the key regions today, as uncertainty caused by the Coronavirus has made the market difficult to predict.

Although the overall situation is too blurry, the upcoming meeting between OPEC members and producers and their non-OPEC counterparts, scheduled for 9 April, could boost the bunker market if an agreement is reached, particularly between Saudi Arabia and Russia.

“Bunker prices globally do not have any firm trend at the moment,” said the MABUX spokesman, emphasising the importance of an agreement on crude oil production cuts to be discussed in tomorrow’s OPEC+ meeting, which “may set up a potential upward trigger for the bunker market in a medium-term outlook,” he added.

A MABUX spokesman argued that, “There is still no clarity in bunker pricing, and still huge uncertainty on where things are going.” He went on to say that it is clear that the VLSFO market is unlikely to see any significant rebound from prevailing levels due to lacklustre demand alongside abundant supply.

 

Source: MABUX




Latest Posts

The Indian Ocean Rivalry

The Indian Ocean has emerged as a strategic theater of competition between two Asian giants: India and China. India’s recent developments indicate a rapid expansion...

Statkraft advances plans for green hydrogen scheme at Hunterston

Europe’s largest generator of renewable energy has proposed the development of a green hydrogen facility at Hunterston, the former coal terminal in Ayrshire. Clydeport –...

Port of Bilbao wraps up busiest month for cruise traffic

May has marked a record month for cruise activity at the Port of Bilbao’s terminal in Getxo, with 18 cruise ship calls bringing over...

Tripoli port shutdown sparks maritime crisis in Libya

Libya’s shipping sector is teetering on the edge of collapse as fresh waves of political violence erupt in Tripoli, crippling key port operations and...

Klaipėda port embarks on green hydrogen initiative

Klaipėda Port launched its green hydrogen initiative, positioning itself as the first in Lithuania and the broader Baltic region to produce and supply green...
error: Content is protected !!