Fuel oil shortage caused by Middle East war could disrupt global shipping — Bloomberg

The global shipping industry may face major disruptions if ports run out of fuel oil due to the ongoing conflict in the Middle East. Bloomberg reports that supply shortages are already emerging in key bunkering hubs.

According to the report, fuel oil supplies have sharply declined in the world’s largest bunkering centers — Singapore and Fujairah (UAE). Prices have surged far beyond previous historical peaks, reaching about $140 per barrel in Singapore and nearly $160 per barrel in Fujairah, with some grades climbing to $175 per barrel.

Experts say these levels significantly exceed the previous peaks recorded during the 2008 and 2022 energy crises. Rising prices and tightening supply are increasing pressure on global maritime transport operations.

Analysts warn that if fuel supply conditions do not stabilize soon, shipping companies may face operational disruptions across major ports and routes, potentially affecting global supply chains and the broader world economy.