Bunker prices across the Americas have moved in mixed directions, and possible disruptions are expected in Zona Comun due to rough weather conditions.

PHOTO: Cargo containers being offloaded at the port of Los Angeles. Getty Images

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

• VLSFO prices up in Los Angeles ($4/mt), unchanged in Zona Comun, and down in Houston ($7/mt), New York ($6/mt) and Balboa ($3/mt)
• LSMGO prices up in New York ($7/mt) and Los Angeles ($5/mt), and down in Houston ($4/mt) and Balboa ($2/mt)
• HSFO prices up in Balboa ($6/mt) and Los Angeles ($4/mt), and down in New York ($4/mt) and Houston ($2/mt)

Los Angeles’ VLSFO price has gained in the past session, while prices have dipped in New York and Houston. Los Angeles’ VLSFO price has moved sharply above New York and Houston’s in the past month and is currently at premiums of $94-91/mt.

In Los Angeles and Long Beach on the West Coast, demand has been quiet this week, and all fuel grades have good prompt availability. Suppliers suggest lead times of 6-7 days.

LSMGO prices have risen across major Americas ports. At the start of the year, New York traded at a slight discount to Houston, but it has since shifted to a premium of $38/mt.

Bunker fuel availability remains steady in New York and across the East Coast. In New York, suppliers can accommodate prompt deliveries with lead times of 3-4 days.

In Argentina’s Zona Comun strong wind gusts exceeding 20 knots are forecast at the anchorage through 27 March, potentially disrupting operations. Lead times are currently around 10-12 days.

Brent

The front-month ICE Brent contract has gained $1.22/bbl on the day, to trade at $73.51/bbl at 08.00 CDT (13.00 GMT).    

Upward pressure:

Brent’s price gained over $1/bbl after US President Donald Trump threatened to impose 25% tariffs on imports from countries buying Venezuelan oil and gas.

The news comes amid growing tensions between Washington and the Nicolas Maduro-led Venezuelan government, with the former accusing the Latin American country of fueling illegal immigration and criminal gang activities in the US.  

“Oil got an additional boost after the US announced secondary tariffs on buyers of Venezuelan oil,” two analysts from ING Bank noted.

China, India, Spain, Italy and Cuba are among the largest consumers of Venezuelan oil, Reuters reports.

“The levies would impact major economies from China and India and Western Europe,” ANZ Bank’s senior commodity strategist Daniel Hynes remarked. “It may also complicate business for US Gulf Coast refiners, that rely heavily on Venezuela’s heavy crude to feed production lines,” he added.

Downward pressure:

Brent’s price gains were partially capped after the US treasury department extended oil company Chevron’s deadline to cease operations in Venezuela until 27 May.

Despite the existing sanctions, Chevron has held a license allowing it to operate in the country and export crude oil to the US since 2022.

“The withdrawal of Chevron’s licence to operate could reduce production in the country by about 200kb/d [200,000 b/d],” Hynes added.

By Gautamee Hazarika and Aparupa Mazumder

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