Fuel prices have shown mixed movements, and weather conditions in the US Gulf Coast have improved amid the ongoing hurricane season.

IMAGE: Houston Ship Channel. Port Houston

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

• VLSFO prices up in Zona Comun ($7/mt), Los Angeles ($4/mt) and Houston ($3/mt), unchanged in Balboa, and down in New York ($3/mt)
• LSMGO prices up in Zona Comun ($10/mt), Houston ($8/mt) and Los Angeles ($6/mt), and down in Balboa ($4/mt) and New York ($1/mt)
• HSFO prices up in Houston ($7/mt) and Los Angeles ($3/mt), and down in New York ($8/mt) and Balboa ($6/mt)

Zona Comun’s VLSFO and LSMGO price benchmarks have recorded the highest gains in the past session. Availability remains good at the anchorage, with suppliers typically recommending 5–7 days of lead time.

Weather at the anchorage is calm today, but stronger wind gusts of 20–25 knots with rain are forecast from 30-31 August, which could delay bunkering operations as suppliers typically suspend deliveries when winds exceed 20 knots.

Houston’s HSFO price has increased by $7/mt, while New York’s price for the grade has fallen by $8/mt. These movements have shifted New York’s premium to a discount of $4/mt to Houston today.

Bunker fuel availability at Houston has remained healthy, with suppliers typically asking for less than 7 days of lead time for HSFO and LSMGO. VLSFO can be delivered within 4–5 days.

In New York, HSFO availability has improved since last week. VLSFO and LSMGO can be delivered within 3–4 days, while HSFO still requires longer lead times.

Weather conditions have improved in the US Atlantic region, and the National Hurricane Center has discontinued marine warnings today.

Brent

The front-month ICE Brent contract has gained by $0.40/bbl, to trade at $67.93/bbl at 08.00 CDT (13.00 GMT).

Upward pressure:

Brent’s price has shed the previous day’s losses after the US Energy Information Administration (EIA) reported a drawdown in US crude stocks.

Commercial US crude oil inventories have dropped by 2.4 million bbls to touch 418 million bbls for the week ending 22 August, according to data from the EIA.

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

“[Brent] crude futures found support… from the Energy Information Administration report, which showed sizeable inventory declines across crude and refined products,” remarked VANDA Insights’ founder Vandana Hari.

Downward pressure:

Brent’s price gains were capped after US tariffs on imports of Indian goods came into effect yesterday.

US President Donald Trump has imposed 25% secondary tariffs against India, taking the total levy on US imports from India to 50%.

New Delhi currently faces tariffs on all exports to the US because of its continued purchases of Russian crude oil, according to market analysts.

“US tariffs on imports of Indian goods rose to 50% on Wednesday to punish the exporter for buying Russian crude,” remarked ANZ Bank’s senior commodity strategist Daniel Hynes.

By Gautamee Hazarika and Aparupa Mazumder

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