Bunker benchmarks across key ports have largely tracked Brent’s upward movement, and rough seas are expected to delay operations in GOLA through Saturday.

IMAGE: Aerial view of the Vincent Thomas Bridge across the Los Angeles Harbor. Getty Images

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

• VLSFO prices up in Balboa and Zona Comun ($8/mt), New York ($6/mt), Houston and Los Angeles ($5/mt)
• LSMGO prices up in New York ($11/mt), Balboa ($8/mt), Houston and Los Angeles ($7/mt)
• HSFO prices up in Balboa ($6/mt), Los Angeles ($5/mt) and Houston ($2/mt), and unchanged in New York

A greater VLSFO price increase than for HSFO in Balboa in the past day has pushed its Hi5 spread up by $2/mt to $20/mt.

The Panamanian bunker market remains very quiet, with some suppliers currently waiting for resupply.

VLSFO and LSMGO availability is good with lead times of 5–7 days advised, while HSFO supply is very limited and requires lead times of over seven days.

In the Galveston Offshore Lightering Area (GOLA), high sea conditions are expected to cause delays over the next three days, a source said.

Los Angeles’ LSMGO price has risen by $7/mt in the past session. It is currently at wide discounts of $96/mt to Seattle and $118/mt to Vancouver, while at premiums of $30/mt over New York and $52/mt over Houston.

Bunker fuel availability and demand remain steady in the West Coast port, with suppliers advising lead times of around a week.

Some 17 vessels are scheduled to arrive in Los Angeles this week and container import volumes are expected to increase to 99,000 TEUs.

Brent

The front-month ICE Brent contract has gained $0.75/bbl on the day, to trade at $68.08/bbl at 08.00 CDT (13.00 GMT).

Upward pressure:

Brent crude’s price has found some support as market participants await the final outcome of US-China trade talks.

Representatives from the two countries, who met in London this week, have agreed on a framework to ease trade tensions. However, the deal is yet to be reviewed and approved by US President Donald Trump and his Chinese counterpart Xi Jinping.

“From a market sentiment perspective, it’s a light nod toward de-escalation, but let’s not kid ourselves - this wasn’t a breakthrough,” SPI Asset Management managing partner Stephen Innes remarked.

Downward pressure:

Brent’s price has moved lower, shedding yesterday’s gains, after the US Energy Information Administration trimmed its projection for 2025 global oil demand to 103.5 million b/d, noting an annual growth of about 800,000 b/d, down from the 1 million b/d projected last month.

Lower oil consumption is expected to raise inventories by more than 800,000 b/d this year, Hynes said.

A slowdown in global oil demand growth will automatically push oil prices lower, according to market analysts.

By Gautamee Hazarika and Aparupa Mazumder

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