Europe & Africa Market Update 30 Oct
Bunker prices in major European and African ports have gained, and prompt fuel availability is tight in the ARA hub.
IMAGE: The Europoort area in the Port of Rotterdam. Getty Images
Changes on the day to 09.00 GMT today:
- VLSFO prices up in Rotterdam ($26/mt), Durban ($23/mt) and Gibraltar ($16/mt)
- LSMGO prices up in Durban ($55/mt), Rotterdam and Gibraltar ($29/mt)
- HSFO prices up in Gibraltar ($18/mt), Durban ($17/mt) and Rotterdam ($14/mt)
- B30-VLSFO price up in Rotterdam ($2/mt)
Bunker prices have mostly increased in the past day, tracking Brent futures.
Meanwhile, Antwerp’s LSMGO price has dropped by $23/mt in the past day. This has flipped Rotterdam’s LSMGO price to a $42/mt premium over Antwerp’s LSMGO, compared to a $10/mt discount yesterday.
Rotterdam’s VLSFO and HSFO prices carry a $13-18/mt premium over those in Antwerp. Rotterdam's prices were higher than Antwerp's on average in every quarter of 2026. Its VLSFO premium rose from $9/mt in the first quarter to $17/mt in the second quarter, then eased to $10/mt in the third quarter.
Rotterdam's LSMGO premium over Antwerp widened from $2/mt to $10/mt and then $11/mt, while its HSFO premium went from $4/mt to $10/mt in both the second and third quarters.
Prompt availability is tight in the ARA hub, with suppliers recommending lead times of 5-7 days to book deliveries, a trader told ENGINE.
Brent
The front-month ICE Brent contract has gained by $3.05/bbl on the day, to trade at $116.54/bbl at 09.00 GMT.
Upward pressure:
Brent crude’s price has gained support following fresh attacks on oil tankers in the Strait of Hormuz and Saudi energy facilities.
A tanker was struck by an unknown projectile while completing an outbound transit of the Strait of Hormuz yesterday, the United Kingdom Maritime Trade Operations (UKMTO) agency reported.
Separately, another vessel was reportedly set ablaze about 25 nautical miles northeast of Khasab, Oman. The cause of the fire remains unknown.
Meanwhile, Yemen’s Iran-aligned Houthi militants claimed responsibility for attacks on several sites in Saudi Arabia yesterday, including the Ras Tanura and Rabigh refineries and the Abqaiq oil processing facility.
Downward pressure:
Brent futures’ gains have been capped by some signs of diplomatic progress in the Middle East.
Diplomatic efforts to end the conflict have “intensified”, ANZ Bank’s senior commodity strategist Daniel Hynes said, after US Vice President JD Vance reached out to Mohsen Rezaee, secretary of Iran’s National Security Council.
Iran received a letter from Vance but has not yet responded, Reuters reported citing Iran’s semi-official Tasnim News Agency.
By Nachiket Tekawade and Aparupa Mazumder
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