Benchmark bunker prices at European and African ports remain steady, and fuel availability is normal off Malta.

IMAGE: Tankers during a bunker operation off Malta. Getty Images

Changes on the day to 09.00 GMT today:

• VLSFO prices up in Durban ($4/mt), unchanged in Rotterdam, and down in Gibraltar ($3/mt)
• LSMGO prices up in Gibraltar ($2/mt) and Rotterdam ($1/mt)
• HSFO prices down in Rotterdam ($2/mt) and Durban ($1/mt), and down in Gibraltar ($3/mt)
• Gibraltar B30-VLSFO premium over VLSFO up by $5/mt to $332/mt

Fuel prices have remained mostly steady in the past day at major European and African ports, except Malta’s offshore bunkering area, where LSMGO's price slumped by $16/mt. A significantly lower-priced 50-150 mt stem, fixed at $715/mt off Malta, may have put downward pressure on the price.

Consequently, LSMGO offered off Malta is now at a $16/mt discount to Gibraltar, compared to a $2/mt premium yesterday.

Malta Offshore's LSMGO premium over its VLSFO price has also narrowed by $14/mt over the past session.

Malta's offshore bunkering area is seeing an increase in demand for LSMGO while the demand for VLSFO has eased since the Mediterranean Emission Control Area (MedECA) came into force in May 2025, capping the sulphur emissions from ships in the Mediterranean sea area to 0.1%, the trader told ENGINE.

At least 477 LSMGO stems have been fixed off Malta in the past three months, compared with at least 178 VLSFO stems fixed in the same period, according to ENGINE’s fuel quality data.

Fuel supplies continue normally off Malta, with 1-5 days of notice enough for delivery of all grades, the trader added.

Brent

The front-month ICE Brent contract has gained by $0.15/bbl on the day, to trade at $67.20/bbl at 09.00 GMT.

Upward pressure:

Brent crude’s price has moved higher due to a knee-jerk risk premium added to the market after Poland intercepted Russian drones breaching its airspace yesterday.

The development marks the first time a NATO member has directly intervened in the Russia-Ukraine war, now in its third year.

“The incursion of Russian drones into Polish airspace raised concerns that the US would retaliate with further restrictions on Russia’s energy supplies,” remarked ANZ Bank’s senior commodity strategist Daniel Hynes.

Downward pressure:

Brent’s price has felt some downward pressure after the US Energy Information Administration (EIA) reported an increase in US crude stocks.

Commercial US crude oil inventories have gained by 3.9 million bbls to touch 425 million bbls for the week ending 5 September, according to data from the EIA.

A rise in US crude stocks can indicate lower demand for oil and put some downward pressure on Brent's price, according to market analysts.

By Nachiket Tekawade and Aparupa Mazumder

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