The region’s bunker prices have moved sharply up and bunker operations could be suspended by rough weather in GOLA.

IMAGE: New York Harbor. Getty Images

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

• VLSFO prices up in New York ($30/mt), Houston ($22/mt), Los Angeles ($18/mt), Balboa ($14/mt) and Zona Comun ($11/mt)
• LSMGO prices up in New York ($40/mt), Balboa ($33/mt), Houston ($22/mt) and Los Angeles ($21/mt)
• HSFO prices up in New York ($26/mt), Houston ($21/mt), Los Angeles ($15/mt) and Balboa ($11/mt)

Bunker prices rebounded across key Americas ports today after earlier declines this week, with New York recording the steepest rise in VLSFO. The jump has widened New York’s premium over Houston from $3/mt on 18 February, to $47/mt now.

The East Coast port has also seen the sharpest price increase for LSMGO, which now stands at a $53/mt premium over Houston, and narrowing to a $16/mt discount to Los Angeles.

Demand has increased in North American ports compared to the past two weeks, while fuel availability remains stable in major ports, a source said.

Bunker deliveries are currently underway in the Galveston Offshore Lightering Area (GOLA), although deliveries are expected to be suspended by bad weather from Friday. Operations may face further disruptions until 21 April due to high wind gusts.

Supply is tight at the Zona Comun anchorage, where operations are underway but are expected to be suspended on Saturday due to rough weather, a source said.

Brent:

The front-month ICE Brent contract has gained $0.86/bbl on the day, to trade at $65.40/bbl at 08.00 CDT (13.00 GMT).    

Upward pressure:

Brent’s price moved higher as global investors found some relief after the US administration temporarily paused some tariffs for 90 days.

While there are no significant upward pressures on Brent’s price at the moment, easing tariff-related concerns have helped prevent a further decline.

Market participants are now waiting to see the outcomes of trade negotiations between the US and its trading partners during the 90-day pause period.

Downward pressure:

Brent’s price felt some downward pressure after the American Petroleum Institute (API) reported a surge in US crude stocks. US crude oil inventories gained by 2.4 million bbls in the week ending 11 April, according to API estimates.

A buildup in inventories typically signals weaker oil demand, which can put downward pressure on Brent's price. “The demand picture for oil looks anything but rosy,” SPI Asset Management managing partner Stephen Innes remarked.

Additionally, the Paris-based International Energy Agency (IEA) now sees global oil demand to grow by 730,000 b/d in 2025, about 300,000 b/d lower than its previous estimate. This news has also capped Brent’s price gains.

“Traders are looking past the surface print and zeroing in on the soft underbelly: bloated inventories, sluggish demand recovery, and a tariff war that’s morphing into a slow bleed for global trade flows,” Innes added.

Gautamee Hazarika and Aparupa Mazumder

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