Fuel benchmarks have moved in mixed directions, and reduced visibility in New York might delay bunker operations today.

IMAGE: The San Pedro Bay Port Complex, US. Port of Los Angeles

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

• VLSFO prices down in Zona Comun ($12/mt), Houston and Balboa ($11/mt), Los Angeles ($10/mt) and New York ($1/mt)
• LSMGO prices up in Balboa ($5/mt), and down in Los Angeles ($16/mt), Zona Comun ($14/mt), Houston ($10/mt) and New York ($2/mt)
• HSFO prices up in Balboa ($13/mt) and Houston ($7/mt), and down in Los Angeles ($11/mt) and New York ($7/mt)

Houston’s LSMGO price benchmark has fallen by $10/mt and is currently at a discount of $58/mt to New York, up from $36/mt a month ago.

Demand is strong in Houston and suppliers are quoting prompt pricing for deliveries within five days, with a general recommended lead time of 6–7 days, a source said.

In New York, reduced visibility from patchy fog could delay bunker operations temporarily tonight.

Los Angeles has recorded price declines across all three fuel grades. The port’s HSFO price benchmark has fallen by $11/mt. It is at a discount of $31/mt to New York, and a small premium of $5/mt over Houston.

The West Coast port has seen static demand with few enquiries received over the past week, another source said. Bunker fuel availability is normal, and suppliers have recommended lead times of 6-8 days for HSFO and LSMGO.

VLSFO can be delivered with shorter lead times of 4-5 days.

Brent

The front-month ICE Brent contract has lost $0.6/bbl on the day, to trade at $66.30/bbl at 08.00 CDT (13.00 GMT).

Upward pressure:

US President Donald Trump has extended the tariff deadline with Beijing to 10 November, delaying the implementation of triple-digit duties on Chinese imports as US retailers gear up for the year-end holiday season.

The move has boosted optimism that the two largest oil consumers might reach a deal and avoid a near-total trade freeze.

Market analysts warn that high tariffs could dampen global economic growth, eroding oil demand and putting downward pressure on prices.

“Tariffs stay locked where they are until November, a welcome pause after August’s slugfest of reciprocal hikes,” remarked SPI Asset Management managing partner Stephen Innes.

Downward pressure:

Brent crude has felt some downward pressure as the oil market awaits details from the meeting of President Trump and his Russian counterpart Vladimir Putin.

The two leaders are scheduled to meet in Alaska on Friday to explore the possibility of reaching a peace agreement in the Ukraine conflict.

However, Ukrainian President Volodymyr Zelenskyy has yet to receive an official invitation to the summit.

“Any peace deal between Russia and Ukraine would end the risk of disruption to Russian oil that has been hovering over the market,” ANZ Bank’s senior commodity strategist Daniel Hynes remarked.

By Gautamee Hazarika and Aparupa Mazumder

Please get in touch with comments or additional info to news@engine.online