Bunker fuel prices have moved in mixed directions, and the hurricane season could disrupt bunker operations in Mexico.

IMAGE: Oil tanker with a tug boat escort passing under the Corpus Christi Harbor Bridge. Getty Images

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

• VLSFO prices up in Houston ($8/mt) and New York ($3/mt), and down in Balboa ($18/mt), Zona Comun ($8/mt) and Los Angeles ($1/mt)
• LSMGO prices up in New York ($10/mt) and Houston ($3/mt), and down in Balboa ($3/mt) and Los Angeles ($1/mt)
• HSFO prices up in Houston ($2/mt), unchanged in Balboa, and down in New York ($5/mt) and Los Angeles ($2/mt)

Balboa's VLSFO price has recorded the sharpest decline after a lower-priced 500-1,500 mt VLSFO stem was fixed at $506/mt, putting downward pressure on the benchmark.

The port's LSMGO price has also declined after a lower-priced 50-150 mt LSMGO stem was fixed at $668/mt.

New York's LSMGO price has recorded the biggest increase in the last session, but it is still at discounts of $11/mt to nearby Philadelphia, $56/mt to Savannah and $76/mt to Charleston.

All fuel grades are available for prompt deliveries in New York, where lead times of 3-5 days are recommended for broad supplier coverage.

Two storms are currently active off the coast of southwestern Mexico. The National Hurricane Center has issued advisories for both the Barbara and Cosme storms.

There is also another low-pressure system south of Mexico that could develop into a storm later this week. Storm conditions can disrupt bunker operations in the coming days and weeks by suspending deliveries or delaying vessel schedules, a source said.

Brent

The front-month ICE Brent contract has gained $0.57/bbl on the day, to trade at $67.33/bbl at 08.00 CDT (13.00 GMT).

Upward pressure:

Hopes of a positive outcome from the ongoing US-China trade negotiations have given Brent’s price a leg up for yet another day.

Escalating US-China trade tensions had raised fears of an economic slowdown in two of the world’s largest economies. An economic slowdown can directly impact oil demand through reduced industrial activity, consumer spending and overall consumption. But recent signs of progress in the trade talks have allayed some of these concerns, thereby boosting oil prices.

The stalemate in US-Iran nuclear talks has provided additional support.

Iran produced around 3.43 million b/d of crude oil in April 2025, according to the International Energy Agency’s May oil report. If US sanctions are lifted, a return of these Iranian barrels to the global market could boost supply and weigh on prices. The two countries are still negotiating terms for a nuclear deal.

Downward pressure:

“… the prospect of further hikes in OPEC supply continue to hang over the [oil] market,” ANZ Bank’s senior commodity strategist, Daniel Hynes said in a note.

The group's shift to a “market-driven strategy,” focusing on seasonal demand and limited supply from non-OPEC producers could lead to a significant surplus in the second half of this year, Hynes added.

By Gautamee Hazarika and Konica Bhatt

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