Marine fuel market participants in the Middle East’s bunkering hub of Fujairah are cautiously optimistic and a little anxious about what will happen now that the US and Iran have agreed to ease regional tensions.

23 June 2026

As part of the agreement, the US has allowed unlimited sales of Iranian crude and refined products, which could see a return of Iranian high-sulphur fuel oil (HSFO) to Fujairah.

While this offers a potential path to normalisation of the trading environment, which has been heavily affected by shipping disruptions in the strait of Hormuz, local traders, suppliers, and buyers remain somewhat sceptical about the timeline, enforcement, and practical implementation of agreed actions.

Iran had been a key supplier of HSFO to Fujairah, accounting for 25pc of all imports, or 70,000 b/d, in 2025, oil analytics firm Vortexa’s data show.

These supplies were cut off as relations between the UAE and Tehran deteriorated. During the war, Iran repeatedly attacked Fujairah’s infrastructure, with Tehran accusing the UAE of collaborating with the US and Israel.

Some bunker suppliers cannot see the return of stable trade, at least in the near future.

“We are hopeful, but there is anxiety in the market that relations have received too much damage,” a senior Fujairah-based bunker supplier said. “Everything hinges on how bilateral diplomatic relationships between the UAE and Iran navigate this transition phase.”

Others said the economic benefits of the trade will help to overcome difficulties in bilateral relations. But, in the post-sanction period, the fuel will not be as cheap as before, they said.

Even if sanctions are smoothly lifted, local suppliers anticipate intense competition for Iranian straight-run HSFO from Asian refiners with upgraded secondary processing units, which will be eager to secure supply as a highly economical cracking feedstock.

“Fujairah won’t be the only buyer in town once the Iranian HSFO is freed from shackles,” a regional fuel oil trader said. “Once those barrels are fully legitimised and the banking channels clear, big players will return to feed the appetite of massive, sophisticated refining complexes across Asia.

“The resulting premium structure could easily price local bunker blenders right out of the market,” the trader said.

For the very low-sulphur fuel oil (VLSFO) sector, Fujairah’s supply recovery remains heavily reliant on consistent product flows from Kuwait’s 615,000 b/d al-Zour refinery. Shipments from the plant will be capped, at least until late in the third quarter.

“The region is entering a peak summer demand period and Kuwaiti domestic power utilities will inevitably prioritise burning low-sulphur fuel oil for electricity and air conditioning over exporting it,” said a bunker trader.

Combined with lingering security anxieties regarding transits through the strait of Hormuz, the Fujairah market is not factoring in prompt VLSFO supply from al-Zour anytime soon.

Fujairah VLSFO premiums against Singapore cargo benchmarks hit unprecedented highs of $700/t earlier in June, due to an acute local product shortage.

Premiums fell ahead of an arrival of a 100,000t low-sulphur fuel oil cargo from Nigeria’s Dangote on 20 June, with more suppliers emerging with offers for end-June. But premiums remain above $300/t, because there have been sharper falls in the Singapore cargo benchmark price and freight netbacks remain high. In normal market conditions, the VLSFO bunker premium is in a range of $5-15/t.

By Elshan Aliyev

Photo credit and source: Argus Media
Published: 26 May, 2026

The following bunker report has been provided by freight market information provider Baltic Exchange for post on Singapore bunkering publication Manifold Times:

All values are in US$/metric ton, all-in (invoice price), delivered on board
Delivery in 7-10 days
ISO 8217:2010
IFO 380 3.5% Sulphur
IFO 380 0.5% Sulphur
DMA 0.1% Sulphur

Fujairah – Offshore Anchorage Area
Gibraltar – Anchorage area
Houston – Houston Harbor
Panama – (Pacific) dangerous cargo area, Balboa
Rotterdam – Waalhaven Maasvlakte range
Singapore – Anchorage, under SBA Scheme
Zhoushan – Southern anchorage area

Submitted weekly at Close of Business UK time Daily

Panellists:
Cockett Marine Oil Pte, Island Oil Limited, KPI OceanConnect, Monjasa A/S, NSI Marine and Transparensea Fuels

Photo credit and source: Baltic Exchange
Published: 26 June, 2026

The following article regarding Europe and Africa bunker fuel availability has been provided by online marine fuel procurement platform ENGINE for post on Singapore bunkering publication Manifold Times:

• Prompt fuel availability is very tight in the ARA
• HSFO and ULSFO deliveries need long lead times in Piraeus
• Notice of 4-5 days needed for VLSFO and LSMGO in Luanda

Northwest Europe

Prompt fuel availability is very tight for all fuel grades, with suppliers continuing to face delays at loading terminals. Buyers are recommended to book around seven days in advance for VLSFO and HSFO supplies, and five days for LSMGO, to get competitive offers from a wide range of suppliers, a trader said.

The ARA’s independently held fuel oil stocks remain mostly unchanged in June so far, compared to May’s monthly average, according to Insights Global data. Fuel oil stocks in the ARA hub have gained slightly from May’s inventory levels, which were the lowest seen in more than a decade.

The ARA hub has imported 220,000 b/d of fuel oil in June so far, slightly lower than May’s monthly average of 230,000 b/d, according to data from cargo tracker Vortexa. Most of June’s cargoes have come from Syria (24%), U.S. Virgin Islands (14%) and Colombia (13%).

The region’s independent gasoil inventories – which include diesel and heating oil – have gained 10,000 bbls in June so far compared to May. Gasoil inventories have fallen to their lowest level in around two and a half years.

The ARA hub imported 192,000 b/d of gasoil in June, down from 204,000 b/d imported in May, Vortexa data showed. Around 34% of June’s shipments have come from the U.S, while the U.K (22%) and Canada (10%) also contributed supplies.

Fuel availability is stable in Germany’s Hamburg, with buyers advised a notice of around five days to get deliveries of any fuel grade, a trader told ENGINE. Biofuel demand is very low in the port with tiny volumes supplied, the trader told ENGINE.

Buyers off Denmark’s Skaw and in Sweden’s Gothenburg are recommended to book with a lead time of around 10 days for any fuel grade, according to a trader.

Mediterranean

Bunker availability remains very tight for prompt delivery dates in Gibraltar, Algeciras and Ceuta, with buyers recommended to book around 10 days ahead to avoid high premiums, a trader said.

Gibraltar is seeing strong summer demand. The port authority recorded 599 bunker calls last month, which were the highest ever on record.

Availability is tight in Las Palmas for prompt delivery dates, with buyers advised to book with a notice of between 7-10 days to get deliveries of any fuel grade, a trader told ENGINE.

Off Malta, VLSFO availability has tightened in the past week, with deliveries possible around 5-7 days out, a trader said. LSMGO fuel availability remains stable while HSFO is unavailable in the port, the trader added.

In Greek’s Piraeus, suppliers are quoting lead times of around 8-10 days for HSFO and ULSFO supplies, a trader said. LSMGO and VLSFO supplies remain relatively stable.

In Turkey’s Istanbul, fuel availability is normal for all fuel grades, with notice of around 1-3 days sufficient to secure deliveries, a trader told ENGINE.

Africa

In Togo’s Lome, marine fuel buyers are advised to book VLSFO and LSMGO stems around 10 days in advance, a trader said.

In Nigeria’s Lagos, VLSFO supplies require lead times of around a week, a local supplier told ENGINE.

In Angola’s Luanda, a supplier said VLSFO and LSMGO can be delivered with lead times of around 4-5 days.

Off Namibia’s Walvis Bay, buyers are advised to allow around 10 days for delivery because of strong demand, the trader said.

Bunker availability is tight for prompt delivery dates in South Africa’s Durban and off Algoa Bay, a trader said. Buyers are advised to book stems at least 5-7 days ahead.

In Mozambique’s Nacala and Maputo, suppliers are recommending lead times of around 7-10 days for VLSFO, a trader said.

Bunker fuel availability is very tight in Mauritius’ Port Louis, where buyers are advised to book 10-15 days ahead for all fuel grades, according to a trader.

By Nachiket Tekawade

Photo credit and source: ENGINE
Published: 25 June, 2026