Fuel board, 27 September 2026

Brent at $104.38/bbl, WTI $92.41, EUAs €86.78/t. MGO is doing the moving today: Hamburg printed $1,804.25 (+$339.25) against Rotterdam $1,418.50 (-$13.50), a spread of $385.75/mt — on a 1,200t stem that is $462,900 between the two bunkers. Treat the Hamburg print with caution before acting on it; a move that size in one session is as likely a data artefact as a market. Similarly Shanghai HSFO shows a change of -$6,218 against a $775 price, and Zhoushan HSFO at $6,295 is out of line with the region — we flag them as printed, not as verified.