Bunker prices across the Americas have moved in mixed directions, and dense fog may disrupt bunkering operations in the US Gulf Coast.

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

• VLSFO prices up in Zona Comun ($9/mt), Balboa ($4/mt), Houston ($3/mt), down in New York ($8/mt) and Los Angeles ($5/mt)
• LSMGO prices up in New York ($5/mt), down in Los Angeles ($7/mt), New York ($6/mt), Balboa ($3/mt) and
• HSFO prices up in New York and Balbao ($4/mt), Houston ($1/mt) and down in Los Angeles ($9/mt)

Zona Comun's VLSFO price has recorded the highest increase. Supply at the anchorage continues to be tight, with lead times of 10-12 days remaining unchanged.

Demand for bunker fuel overall has picked up across North American ports over the last two weeks, a source said. 

New York's LSMGO price has increased while other ports have fallen. It is currently trading at a premium of $42/mt from Houston.

Supply in New York is good, and all fuel grades are available with expected lead times of 5-6 days

While Houston’s HSFO price increased, its discount to New York widened to $66/mt from $52/mt on 14 March. Bunker fuel availability across all grades in Houston remains stable.

Brent:

The front-month ICE Brent contract has gained $1.27/bbl on the day, to trade at $66.67/bbl at 08.00 CDT (13.00 GMT).

Upward pressure:

Brent crude’s price moved higher after the US administration announced stricter sanctions on Chinese buyers of Iranian crude oil.

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned several companies and vessels responsible for facilitating Iranian oil shipments to China, which are a part of Iran’s shadow fleet.

The news was aided by further supply-side issues as OPEC revealed revised compensation plans from seven members, aiming to make deeper cuts in the upcoming months through June 2026 for previous overproduction.

“Iraq said it will cut its oil exports this month after it faces pressure to adhere to its OPEC+ production target,” ANZ Bank’s senior commodity strategist Daniel Hynes remarked.

The seven OPEC+ members will collectively cut production by a total of 4.6 million b/d through June 2026, the coalition has announced.

Downward pressure:

Brent’s price felt some downward pressure after the US Energy Information Administration (EIA) reported a small rise in US crude stocks.

Commercial US crude oil inventories gained by 515,000 bbls to touch 443 million bbls for the week ending 11 April, according to data from the EIA.

A buildup in inventories typically signals weaker oil demand, which can put downward pressure on Brent's price.

Gautamee Hazarika and Aparupa Mazumder

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