Bunker benchmarks in Americas ports have mostly gained, and bunker operations remain suspended in GOLA amid rough weather.

Changes on the day, to 08.00 CDT (13.00 GMT) today:

• VLSFO prices up in Balboa ($22/mt), Zona Comun ($13/mt), New York ($10/mt) and Houston ($7/mt), and down in Los Angeles ($2/mt)
• LSMGO prices up in Balboa ($40/mt), New York ($13/mt) and Houston ($7/mt), and down in Los Angeles ($10/mt)
• HSFO prices up in Balboa ($13/mt), New York ($7/mt) and Houston ($1/mt), and down in Los Angeles ($2/mt)

Balboa’s LSMGO price has shot up by $40/mt over the past day, driven by several higher-priced firm offers. Meanwhile, Cristobal’s LSMGO price has increased by $11/mt, flipping its previous $3/mt premium over Houston to a $26/mt discount.

Some suppliers in Balboa are facing resupply delays, which has tightened bunker fuel availability in the port, a source says.

Bunker operations have resumed today in Zona Comun after being suspended yesterday due to adverse weather. However, intermittent bad weather is forecasted through the weekend and into next week, potentially causing further suspensions.

In the Galveston Offshore Lightering Area (GOLA), bunker operations remain suspended due to strong winds, with the suspension ongoing since Tuesday. Operations are expected to resume on a case-by-case basis this evening.

A backlog of vessels has formed, and additional delays are likely in the coming days due to persistent high winds and rough seas, a source says.

Brent

Front-month ICE Brent has traded up by as much as $3.19/bbl on the day, to stand at $74.46/bbl at 08.00 CDT (13.00 GMT) today.

Upward pressure:

Iran could hit Israel in retaliation for striking it, Axios reports. This could stoke renewed supply fears into market participants.

OPEC+ may not expand oil supply in December as planned. Weak demand has given grounds for holding back. A decision on this is expected next week.

Downward pressure:

US oil production hit a record high of 13.4 million b/d in August, erasing a previous 13.3 million b/d record.

By Debarati Bhattacharjee and Erik Hoffmann

Please get in touch with comments or additional info to news@engine.online