Bunker prices are generally up with crude in the Americas, and Zona Comun is in for rough weather and potential bunker suspensions.

IMAGE: Vessels at Argentina's Zona Comun anchorage by La Plata. Antares Ship Agents

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

• VLSFO prices up in Los Angeles ($15/mt), Zona Comun ($9/mt), Balboa ($5/mt) and New York ($3/mt), and down in Houston ($6/mt)
• LSMGO prices up in Zona Comun ($27/mt), Los Angeles ($21/mt), Balboa ($20/mt), New York ($9/mt) and Houston ($4/mt)
• HSFO prices up in Balboa ($34/mt), Houston ($16/mt), Los Angeles ($9/mt) and New York ($5/mt)

Houston’s VLSFO price has defied the general market direction by shedding some value in the past day. A 500-1,500 mt stem with delivery in more than seven days has been fixed at $463/mt and pulled the benchmark lower.

Houston’s LSMGO price has gained less than in other major ports. Two lower-priced 150-500 mt LSMGO stems have been fixed with lead times of more than seven days and weighed on the benchmark.

Balboa’s HSFO price has jumped $34/mt higher and moved to a $57/mt premium over Houston’s.

LSMGO benchmarks are sharply up in Balboa, Los Angeles and Zona Comun.

Zona Comun has strong wind gusts of 20-28 knots forecast today and up to 33 knots on Friday, with 2-3-metre-high waves until then. Bunkering is normally suspended when wind speeds go beyond 20 knots.

Brent

The front-month ICE Brent contract has made a significant $1.43/bbl gain the past day, trading at $67.55/bbl at 08.00 CDT (13.00 GMT) today.

Upward pressure:

Brent crude’s price has found some support due to impending supply concerns in the global oil market.

Canadian Prime Minister Mark Carney has called for secondary sanctions on Russia, Bloomberg reported.

The remark came days after the European Commission (EC) proposed its 19th package of economic sanctions against Russia, targeting 118 additional vessels that are allegedly a part of Russia’s shadow fleet.

“This [Carney’s remarks] revived supply concerns, which had eased late last week following an amicable exchange between presidents [Donald] Trump and Xi [Jinping],” said ANZ Bank’s senior commodity strategist Daniel Hynes.

Downward pressure:

Brent been under downward counterpressure from news that Iraq has hiked its oil exports this month, Reuters reported, citing Iraqi state oil marketer SOMO.

The exports increase comes as OPEC+ producers continue gradually unwinding voluntary production cuts, deepening market concerns over a looming supply glut.

Earlier this month, eight members of OPEC+ agreed to increase production by 137,000 b/d in October - the sixth consecutive time that they plan to raise production.

“Iraq is pumping out more barrels now that OPEC+ loosened its grip on quotas,” remarked Price Futures Group’s senior market analyst Phil Flynn.

By Erik Hoffmann and Aparupa Mazumder

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