Overview
Argus has been bringing price transparency to the oil industry since 1970, providing valued insight into all refined products and biofuels markets globally.
Our range of industry-leading price benchmarks, all informed by the most robust methodologies, provide a true reflection of how the markets operate and are relied upon across the value chain to facilitate global trade.
Our experts are embedded in local markets across the world and are in constant contact with market participants for the latest spot market intelligence. Their insights underpin our price assessments and market analysis, enabling our clients to make the most effective decisions for their business.
Oil products market coverage
Argus is the leading independent provider of market intelligence to the global energy and commodity markets. Our price assessments and market intelligence are available for every kind of refined oil product. Explore the coverage most relevant for your industry.
Latest oil products news
Browse the latest market moving news on the global oil products industry.
Projectiles hit 2 more ships near strait of Hormuz
Projectiles hit 2 more ships near strait of Hormuz
London, 1 March (Argus) — Explosive projectiles hit two more ships near the strait of Hormuz today, according to the United Kingdom Maritime Trade Operations (UKMTO), bringing the total to three. One tanker was struck 50 nautical miles (nm) north of Muscat, Oman, leading to a fire in the engine room that is now reportedly under control. A second was hit 17nm northwest of Mina Saqr, UAE, leading to a fire that was subsequently extinguished. This was in addition to a strike on a Palau-flagged chemicals and oil products tanker earlier on Sunday. One additional vessel that was 35nm west of Sharjah, UAE, reported a projectile explosion nearby that had no impact. Risks to commercial shipping are mounting as the US-Israel-Iran conflict spreads across the Mideast Gulf. Many ships appear to be pooling east of the strait, shiptracking data show, until the situation is further clarified. Within the Mideast Gulf, operations at most ports are continuing as normal, according to port agent GAC. Jebel Ali, which is close to the strait of Hormuz, has suspended all operations but ports further west in the Mideast Gulf have not closed. Operations are running as normal at Basrah, Khor Al Zubair and Umm Qasr in Iraq, as well as Ras Laggan and Mesaieed in Qatar. All Saudi Arabian ports are also running as normal. But the port agent highlighted that Ras Laffan port is reporting "significant GPS signal degradation" in the region, which can hamper tankers' ability to navigate. This disruption to the Automatic Identification System (AIS) — the GPS system used by shipping — also suffered problems during previous conflicts in the region, including in June 2025 . The situation in the region remains fluid and as insurers and some shipowners step back from operating, considering further disruptions likely. By John Ollett Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UAE Fujairah bunker market braced for impact
UAE Fujairah bunker market braced for impact
Dubai, 1 March (Argus) — Bunker market participants in the UAE's Fujairah, the Middle East's largest marine fuels port, are braced for a dramatic fall in demand and trading activity following the most significant escalation in years in the Mideast Gulf and disruption to vessel traffic. Fujairah, a key supplier of bunker fuels for ships travelling through the Strait of Hormuz and also the third largest oil and products storage centre in the world, has not been targeted by the Iranian military as of today, 1 March, unlike the UAE port of Jebel Ali and other regional hubs. Shipping activity in the Mideast Gulf has been slowing down, in particular after unverified warnings about the closure of vessel traffic through the Strait of Hormuz . "More and more customers are cancelling and avoiding the area," a Dubai-based bunker trader said. "We have been mostly dealing with cancellations this weekend." Earlier today, Palau-flagged bunker barge Skylight was hit 67 miles to the north of Fujairah, and debris from a missile fell near another vessel in Jebel Ali. Some war risk underwriters put vessel insurance policies on hold, shipping sources told Argus , with the possibility of policies being cancelled altogether. "The cost of war risk premiums will surge, making travel here too costly for shipping firms," a Fujairah bunker supplier said. Iranian strikes on the UAE also pose a question about future supply of bunker-grade high-sulphur fuel oil (HSFO) from Iran, which has been a key supplier to Fujairah despite US-led sanctions. "Future trading ties with Iran will depend on how and/or on what terms the conflict ends," one trader said. By Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Oman reports first drone attack amid regional tensions
Oman reports first drone attack amid regional tensions
Dubai, 1 March (Argus) — Oman's Duqm port was hit by two drones, injuring one worker, state-owned new agency Ona said Sunday, marking the first time the sultanate has been drawn into the series of missile and drone attacks linked to the escalating tensions between Iran, Israel and the US. Citing a security source, Ona said one of the drones struck a mobile housing unit for workers, injuring an expatriate, while the debris from the second drone fell near fuel storage tanks. No further casualties or damage were reported. The strike comes despite Oman having acted as the primary mediator in the indirect talks between the US and Iran earlier this month. Oman's foreign minister Badr al-Busaidi said following the last round of talks on 26 February that the two sides had made "significant progress," although no formal agreement was reached . Tehran and Washington were due to hold a new round of talks this coming week in Vienna. But the situation spiralled into open conflict on Saturday when the US and Israel launched a coordinated military operation against Iran, prompting Tehran to retaliate by launching missiles and drones at Israel and US military assets in the Mideast Gulf region . The Duqm attack is the first on Omani soil in the recent wave of regional strikes which have affected several neighboring countries, but spared the sultanate until now. Ports in the UAE and Kuwait have also been affected. In Dubai, debris from an aerial interception sparked a fire at one of the berths at Jebel Ali Port. Civil defence teams responded quickly and no injuries were reported, the authorities said in on social media platform X on Saturday. In Kuwait, operations at Shuaiba port were suspended on Saturday as a precaution after debris from an unidentified aerial object fell nearby. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Airports in UAE, Kuwait, Bahrain targeted by drones
Airports in UAE, Kuwait, Bahrain targeted by drones
Dubai, 1 March (Argus) — Airports in the UAE, Kuwait and Bahrain have been targeted in drone-related attacks, authorities said, causing damage and injuries, with one reported fatality. In Abu Dhabi, a drone targeting Zayed International Airport was intercepted, causing falling debris that killed one person and injured seven, the airport's operator said on social media platform X early today. Dubai International Airport sustained minor damage at one of its concourses in an incident that was quickly contained, its operator Dubai Airports said. Four staff members were injured in the incident while most terminals had already been cleared of passengers under existing contingency plans, the operator said, without providing further details on the incident. At the neighbouring Kuwait International Airport, a drone struck Terminal One, injuring nine people, all of whom are reported to be in stable condition, according to state-owned news agency Kuna. Terminals One, Four and Five were evacuated, acting director-general of Civil Aviation, Duaij Al-Otaibi said, adding that the situation "remains stable". Flights were diverted and passengers affected have been provided accommodation, Al-Otaibi said. Bahrain's airport was also targeted by a drone, said authorities, causing "material damage" but no injuries, with procedures to secure the site underway. The incidents come after Iran launched retaliatory missile strikes in response to US–Israeli attacks on 28 February, prompting several Mideast Gulf countries to temporarily close airspaces and suspend flight operations . Dubai Airports confirmed cancellations and delays at its airports, while airline Emirates has suspended all flights to and from Dubai. Qatar, Kuwait, Iraq, Oman and Bahrain have also temporarily restricted airspace, according to officials and airlines. The Middle East forms a critical east–west air transit hub linking Europe, Asia and Africa, with Dubai and Abu Dhabi among the world's largest long-haul transfer points. The closure of multiple airspace zones forces airlines to cancel services or reroute around restricted areas, increasing flight times and fuel burn and disrupting passenger flows. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Explore our oil products services
Whether you’re looking for independent spot price assessments or long-term market analysis, we have the solutions you need for the refined oil and biofuels markets. Explore the range of our services.
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.










