Bunker fuel prices in key European and African ports have moved in mixed directions, and fuel availability remains tight in Gothenburg.

IMAGE: Entrance to Gothenburg, Sweden. Island of Hisingen to the left. Getty Images

Changes on the day to 09.00 GMT today:

• VLSFO prices up in Rotterdam ($5/mt) and Gibraltar ($4/mt), and unchanged in Durban
• LSMGO prices unchanged in Rotterdam, and down in Gibraltar ($5/mt)
• HSFO prices up in Durban ($5/mt) and Gibraltar ($3/mt), and down in Rotterdam ($1/mt)
• Rotterdam B30-VLSFO premium over VLSFO up by $3/mt to $284/mt
• Gibraltar B30-VLSFO premium over VLSFO up by $2/mt to $341/mt

The price of LSMGO in Sweden’s Gothenburg has fallen by $8/mt over the past day, likely pressured by a lower-priced 50–150 mt stem fixed at $731/mt. The decline, combined with an unchanged price in Rotterdam, has narrowed Gothenburg’s premium over the Dutch port.

Fuel availability is tight in the Swedish port, with earliest delivery dates for all fuel grades around 10 days out, a trader told ENGINE.

Strong southerly wind gusts of more than 40 knots and waves of over 2 meters are forecast in Gothenburg on 12 November, which may suspend bunkering operations at the port.

Brent

The front-month ICE Brent contract has inched $0.03/bbl higher on the day, to trade at $63.98/bbl at 09.00 GMT.

Upward pressure:

Oil prices have gained support amid concerns over potential supply disruptions in the global market.

Russian oil company Lukoil has declared force majeure at its 400,000 b/d West Qurna-2 oilfield in Iraq, following sanctions imposed by the US and the UK, Reuters reported, citing sources.

In October, the US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned Rosneft and Lukoil, along with 34 of their subsidiaries.

Rosneft and Lukoil are Russia’s two largest oil producers, accounting for around 50% of the country’s total oil production.

Following Washington’s move, Iraq has stopped all cash and crude payments to Lukoil, Reuters added. 

“The announcement by the US of sanctions on two Russian oil producers has created more supply uncertainty in the oil market,” remarked ING Bank’s head of commodities strategy Warren Patterson.

Downward pressure:

Brent’s price gains have been limited due to lingering concerns over an oversupplied market this year and into early 2026.

OPEC+ producers have agreed to collectively increase their production by another 137,000 b/d in December.

“The glut of oil triggered by rising OPEC supply has seen investors become increasingly bearish in recent weeks,” ANZ Bank’s senior commodity strategist Daniel Hynes said.

By Nachiket Tekawade and Aparupa Mazumder

Please get in touch with comments or additional info to news@engine.online