Bunker Prices in Primary Ports Jump 8% to 8-Month High on Middle East Conflict

by Ship & Bunker News Team
Monday March 2, 2026

Bunker prices in the primary ports Monday jumped to an 8-month high in response to US-Israeli lead attacks on Iran and resulting regional disruption - including an effective closure of the Strait of Hormuz.

Ship & Bunker’s key G20-VLSFO index, that tracks the average price of VLSFO bunker fuel across 20 of the worlds primary bunkering ports, rose $44 (8%) Monday to $587.50/mt.

It is the highest level the index has been since June 23, 2205.

The development sets the tone for what some fear could be a series of price shocks over the coming week, with many analysis predicting $100 oil in the very near future - a development that would send VLSFO over $750/mt.

US Secretary of State, Marco Rubio, was quoted Monday as saying his country has anticipated that the conflict would raise energy prices and his country will take steps to address the issue “starting tomorrow.”

For its part, Ebrahim Jabari, a senior adviser to Iran’s Islamic Revolutionary Guard Corps (IRGC) said in a Telegram post Monday his country would be prepared to destroy its own oil pipelines and oil would “reach $200 in the coming days.”

Based on the recent oil / bunker price relationship, $200 oil would send VLSFO prices in the primary ports over $1,500/mt.

Ship & Bunker’s full range of price global and regional average price indices can be found here: https://shipandbunker.com/prices/av

A full range of individual market prices can be found here: https://shipandbunker.com/prices

Ship & Bunker News Team
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