Bunker Fuel Shortage 2026: Why Singapore VLSFO Has Jumped 76%
A global bunker fuel squeeze is building into the third quarter of 2026 as refinery disruption, lower fuel-oil output and restricted Middle East flows tighten supply. Singapore VLSFO reached just under $825/tonne on 1 September, up 76% since the Iran war began, while fuel-oil inventories across Singapore, ARA and Fujairah are around 30% below seasonal norms. The immediate issue for shipping is not that major bunker hubs have run dry, but that higher fuel costs and tighter availability are moving directly into voyage economics, chartering decisions and freight.
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