Most fuel prices have increased in European and African ports, while availability of all fuels remains steady in the ARA hub.

IMAGE: View of the entrance to the Port of Rotterdam, Netherlands. Getty Images

Changes on the day, from Friday, to 09.00 GMT today:

• VLSFO prices up in Durban ($16/mt) and Gibraltar ($14/mt), and down in Rotterdam ($4/mt)
• LSMGO prices up in Gibraltar ($16/mt) and unchanged in Rotterdam
• HSFO prices up in Gibraltar ($9/mt), Rotterdam ($5/mt) and Durban ($2/mt)
• Rotterdam B30-VLSFO premium over VLSFO up by $86/mt to $333/mt
• Gibraltar B30-VLSFO premium over VLSFO down by $2/mt to $393/mt

Fuel prices in the three major ports have mostly gained over the weekend, tracking the rise in Brent.

The price of LSGMO in Gibraltar has significantly increased, widening its premium over Rotterdam by $16/mt, where the price of the grade remains unchanged.

A lower-priced 150-500 mt stem fixed at $652 at the Dutch port may have put counter-pressure on the price.

The B30-VLSFO price in Rotterdam has increased by $82mt, almost 7 times more than it has gained in Gibraltar, where it rose by just by $12/mt. This has narrowed Gibraltar’s price premium over Rotterdam’s blend by $70/mt.

Availability of biofuels is steady in the ARA hub, especially in Netherlands. Dutch suppliers are incentivized by the country’s HBE ticketing system to stock and sell biofuels, a source told ENGINE.

Availability of conventional fuels also remains normal in the bunkering hub. Buyers are advised to give a lead time of 4-5 days for LSMGO supplies, while VLSFO and HSFO supplies might require a longer notice of 5-7 days, a trader said.

Brent

The front-month ICE Brent contract has gained by $0.59/bbl on the day from Friday, to trade at $65.58/bbl at 09.00 GMT.

Upward pressure:

Brent crude has climbed above $65/bbl at the start of the week, driven by renewed supply concerns amid escalating geopolitical tensions.

Over the weekend, Ukraine’s military struck the Kirishi oil refinery, also known as Kinef, in Russia’s Leningrad region, for the second time in a month as it continues to target Moscow’s energy infrastructure.  

The facility is owned by Surgutneftegas – one of Russia’s biggest refiners, Bloomberg reported. The city of Kirishi was targeted with seven drones, the report added.

The same refinery came under attack earlier on 14 September. It has a processing capacity of over 20 million mt/year, according to two analysts from ING Bank.

Downward pressure:

Brent’s rally has lost some steam following OPEC+ announcement of a modest output hike for November 2025.

Eight members of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) have agreed to collectively increase their production by another 137,000 b/d in November.

The hike is much smaller than the market participants' expectations of about a 500,000 b/d increase.

OPEC’s announcement was “in contrast to markets expecting a more aggressive reintroduction of supply,” ING Bank’s analysts noted.

By Nachiket Tekawade & Aparupa Mazumder

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