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Bunker Fuel Prices Mixed: HSFO Rises, MGO Falls

2/7/2026

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Summary

Story summary

Global bunker fuel prices in Week 06 showed mixed trends, according to Sergey Ivanov, Director of MABUX.
The 380 HSFO index increased to US$425.67/MT.
The MABUX Market Differential Index indicates ongoing undervaluation across all bunker fuel grades, with expectations for a moderate upward trend in prices next week.
The MGO LS index fell to US$778.80/MT.
In the European gas market, storage levels dropped to 39.86%, well below the 10-year average.

History

Historical Context

The 1973 oil crisis began when OAPEC imposed an embargo in response to U.S. support for Israel during the Yom Kippur War, causing oil prices to quadruple from $3 to nearly $12 per barrel by 1974. This crisis marked a significant shift in global energy dynamics, leading to persistent fluctuations in oil prices and prompting countries to develop strategic energy policies to prevent future shortages.

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Story summary

Global bunker fuel prices in Week 06 showed mixed trends, according to Sergey Ivanov, Director of MABUX.
The 380 HSFO index increased to US$425.67/MT.
The MABUX Market Differential Index indicates ongoing undervaluation across all bunker fuel grades, with expectations for a moderate upward trend in prices next week.
The MGO LS index fell to US$778.80/MT.
In the European gas market, storage levels dropped to 39.86%, well below the 10-year average.

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