Global bunker prices w-o-w rally continues across most grades amid heightened oil market volatility

• VLSFO rises across all major hubs, while MGO shows mixed movement
• HSFO jumps 7.8% in Singapore but declines in Rotterdam and Fujairah

Global bunker prices showed mixed movements in the week ended 17 October 2026, with Very Low Sulphur Fuel Oil (VLSFO) prices rising across Singapore, Rotterdam and Fujairah. Marine Gas Oil (MGO) prices increased in Rotterdam and Fujairah but edged lower in Singapore, while High Sulphur Fuel Oil (HSFO) recorded a sharp rise in Singapore against declines at the other two hubs.

The divergence across fuel grades indicates uneven pricing pressure across regional bunkering markets. While VLSFO strengthened across all three hubs, movements in MGO and HSFO remained region-specific, highlighting differences in fuel demand and availability.

Regional bunker markets

• Singapore: VLSFO rose by $19.5/tonne (t), or 2.2% w-o-w, to $909/t, while MGO declined by $9/t to $1,272/t. HSFO increased sharply by $63/t (7.8%) to $873/t, indicating firmer pricing in the high-sulphur fuel segment despite mixed movements in other grades.
• Rotterdam: VLSFO increased by $24/t (3.4%) to $739/t, while MGO rose by $23.5/t (1.7%) to $1,398/t, reflecting broader upward pressure across these fuel grades. In contrast, HSFO declined by $10/t (1.5%) to $649/t, highlighting weaker price momentum in the high-sulphur segment.
• Fujairah: VLSFO edged up by $5/t (0.5%) to $973/t, while MGO increased by $15.5/t (0.9%) to $1,710/t, remaining the costliest among the three hubs. HSFO declined by $6.5/t (0.9%) to $705/t, indicating mixed pricing trends across fuel grades amid continued uncertainty over regional oil supplies and shipping conditions.

Market factors

• Brent crude futures rebound amid supply concerns: December Brent futures rose approximately 4.9% w-o-w to $109.86/barrel (bbl) as of 17 October 2026, from $104.94/bbl. The recovery reversed the previous week’s decline, with Middle East tensions and concerns over supply disruptions adding to market volatility.
• WTI crude futures climb above $100/bbl: WTI crude futures rose 10.4% w-o-w to $101.41/bbl as of 16 October, from $91.83/bbl a week earlier. The sharp rebound reflected renewed supply concerns and uncertainty surrounding global oil flows, increasing the potential for further volatility in bunker fuel prices.

Outlook

Global bunker prices are likely to remain volatile in the coming week, with crude-price movements and regional supply uncertainties shaping market direction. VLSFO may continue to track crude trends, while HSFO remains sensitive to regional availability. MGO prices could show mixed movements across major hubs, depending on refined-product supply and local demand.