Fuel Crunch in Global Shipping Amid Middle East and Ukraine Conflicts
Conflicts in the Middle East and Ukraine are tightening the global supply of bunker fuel (heavy fuel oil) as refiners divert crude to higher‑value products like diesel and jet fuel. This has triggered a projected third‑quarter deficit, pushed up fuel prices at key hubs such as Singapore, and threatens higher shipping costs across the globe, with potential knock-on effects for consumers and manufacturers.
