Europe & Africa Market Update 9 Oct 2025

Most fuel prices remain rangebound at European and African ports, and LSMGO supplies have tightened in ARA.

IMAGE: View of the Port of Amsterdam. Getty Images

Changes on the day to 09.00 GMT today:

• VLSFO prices up in Rotterdam ($5/mt), and down in Durban ($2/mt) and Gibraltar ($1/mt)
• LSMGO prices up in Rotterdam ($12/mt), and unchanged in Gibraltar
• HSFO prices up in Rotterdam and Durban ($3/mt), and down in Gibraltar ($2/mt)
• Rotterdam B30-VLSFO premium over VLSFO down by $6/mt to $263/mt
• Gibraltar B30-VLSFO premium over VLSFO up by $8/mt to $399/mt

Most fuel prices in the three major ports have remained steady over the past session, as Brent's price inched up.

Rotterdam’s LSMGO price increase over the past day exceeds that of Gibraltar's, which has remained steady, thus narrowing the Dutch port’s discount to Gibraltar by $12/mt. A higher-priced 150-500 mt LSMGO stem fixed in Rotterdam at $675/mt has provided support to the fuel's benchmark.

LSMGO availability in the ARA bunkering hub has tightened considerably for prompt deliveries. Most suppliers now operate with longer lead times of around 6-7 days, compared to 3-4 days last week, a trader said. VLSFO and HSFO deliveries still require a notice of 5-7 days for coverage from a good selection of suppliers, the trader added.

Brent

The front-month ICE Brent contract has inched up by $0.41/bbl on the day, to trade at $66.42/bbl at 09.00 GMT.

Upward pressure:

Market participants have interpreted the stalled progress on a Ukraine peace deal as an indication that sanctions on Russia—the world’s second-largest oil exporter—are likely to remain in place for now. This has added some upward pressure on Brent futures.

“There are clear upside risks to the oil market, with the most prominent being the ongoing threat of sanctions and secondary tariffs targeting Russia,” said Warren Patterson, head of commodity strategy at ING.

Downward pressure:

US President Donald Trump announced that Israel and Hamas have reached a long-awaited agreement for a Gaza ceasefire and the release of hostages, as part of a broader plan to end the two-year conflict in the Palestinian enclave, according to Reuters. The announcement has put downward pressure on oil prices.

“Crude futures had surrendered some of its gains after US President Donald Trump announced that Israel and Hamas had agreed to the first phase of a peace plan,” said Vandana Hari, founder of VANDA Insights.

Brent crude prices also faced additional pressure, following the release of the US Energy Information Administration’s (EIA) weekly oil inventory report, which showed that commercial US crude stocks rose by 3.7 million bbls to 420.3 million bbls for the week ending 3 October.

By Nachiket Tekawade and Tuhin Roy

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