Conventional bunker prices have moved in mixed directions, and marine warnings due to the ongoing hurricane season remain in effect for the Eastern Pacific.

IMAGE: Container ships moored. Port of New York and New Jersey

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

• VLSFO prices up in Los Angeles ($12/mt), Houston ($3/mt), Balboa ($2/mt), New York ($1/mt), and down in Zona Comun ($4/mt)
• LSMGO prices up in Los Angeles ($16/mt), New York ($6/mt) and Houston ($4/mt), unchanged in Zona Comun, and down in Balboa ($4/mt)
• HSFO prices up in Los Angeles ($11mt) and Houston ($7/mt), unchanged in Balboa, and down in New York ($9/mt)

The price of LSMGO at the port of Los Angeles has increased significantly in the past session, now standing at premiums of $82/mt over Houston, $28/mt over New York and $11/mt over Balboa.

Alternatively, New York’s HSFO price has recorded the biggest decline in the past session, while its VLSFO price has edged up. This has widened the port’s Hi5 spread by $10/mt to $72/mt.

No disruptions are expected at the port as the weather forecast remains relatively calm with northwest winds of 10 knots. Bunker supply has improved in New York compared to last week, with recommended lead times of 6-7 days for VLSFO and LSMGO, according to a source.

As the Atlantic hurricane season is underway, the National Hurricane Centre continues its advisories on Tropical Storm Fernand in the Atlantic and on Tropical Storm Juliette in the Eastern Pacific. Marine warnings remain in effect for the Eastern Pacific.

Brent

The front-month ICE Brent contract has declined by $0.34/bbl, to trade at $67.53/bbl at 08.00 CDT (13.00 GMT).

Upward pressure:

Brent’s price has found marginal support from the latest US crude oil stocks data.

US crude oil inventories fell by 974,000 bbls in the week ending 22 August, according to data from the American Petroleum Institute (API).

“Numbers from the American Petroleum Institute overnight were fairly neutral,” remarked two analysts from ING Bank.

A drop in US crude stocks typically indicates higher demand and can lend some support to Brent's price.

Downward pressure:

Brent crude’s price has come under pressure amid building economic tensions between the US and its key trade partner – India.

US President Donald Trump’s 25% secondary tariffs against India came into effect earlier today, taking the total levy on US imports from India to 50%.

India currently faces tariffs on all exports to the US because of its continued purchases of Russian crude oil, according to the White House.

“The market will be watching Russian oil flows to India closely going forward to gauge the impact,” the two analysts from ING Bank added.

By Samantha Shaji and Aparupa Mazumder

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