World News
Bunker Prices Forecast to be Under $500/mt throughout 2026
Global trade tensions brought about by radical changes in US tariff policy are delivering much lower prospects for crude and bunker prices.
Ship & Bunker's latest global average bunker price forecast shows VLSFO averaging about $517/mt in Q2 2025 and at $529/mt across full-year 2025.
The global average VLSFO price is now forecast to hold below $500/mt throughout 2026.
The Q2 and FY2025 forecasts are down from about $586/mt and $580/mt, respectively, in the Q1 report published in January.
This compares with a global average of $585/mt for VLSFO witnessed in Q1. January's Ship & Bunker VLSFO forecast for Q1 was $596/mt, just 1.9% over the real price as it emerged.
Mutual retaliation in tariffs between the US and China - as well as a 10% tariff on US imports from everywhere else in the world - are delivering a worsening outlook for economic growth and trade around the world, with some predicting a global recession.
Bunker prices have slumped in the past month, and the forecasts show expectations of further declines progressing between now and the end of 2026.
To view the full set of 2025-2026 quarterly forecasts for VLSFO, HSFO and MGO at Singapore, Rotterdam, Fujairah and Houston, as well as on a global basis, click here.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 617.00 | 5.50 |
| Rotterdam | 457.50 | 2.50 | 623.50 | 6.50 |
| Houston | 469.00 | 3.50 | 623.00 | 2.00 |
| Fujairah | 494.50 | 6.50 | 715.50 | 5.50 |
| Global 20 Ports Average | 526.00 | 3.00 | 712.50 | 11.50 |
| Global 4 Ports Average | 481.00 | 4.00 | 645.00 | 4.50 |
| Global Average Bunker Price | 569.00 | 2.00 | 750.00 | 5.50 |
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