Market Intelligence
Global Bunker Prices Surge Around 75 Percent Following Outbreak of US-Iran War
Marine fuel expenses have risen by approximately three-quarters since late February following the outbreak of hostilities between the United States and Iran.
Ship fuelling expenses have recorded a sharp increase, rising by roughly three-quarters since conflict broke out between the United States and Iran on February 28. The surge has placed substantial upward pressure on marine refuelling costs across international markets.
Benchmark figures from Singapore, recognized as the largest bunkering centre in the world, illustrate the scale of the shift. On February 27, the final trading day prior to the start of the conflict, price assessment agency ENGINE recorded very low sulphur fuel oil in the hub at $509 per tonne.
During the same trading session, Singapore high-sulphur fuel oil stood at $432 per tonne. The subsequent steep rise highlights the immediate impact of geopolitical disruption on key marine bunker benchmarks.
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Bunker prices jump by three-quarters since Iran war beganGlobal Freight Briefing
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