Bunker fuel prices have mostly moved higher, and HSFO availability has improved in Houston.

IMAGE: Cargo port with shipping containers along the entrance to the Panama Canal. Getty Images

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

• VLSFO prices up in Zona Comun ($13/mt), Houston ($6/mt) and New York ($3/mt), and down in Balboa ($3/mt)
• LSMGO prices up in Zona Comun ($18/mt), Los Angeles ($10/mt), Houston ($6/mt) and New York ($4/mt), and down in Balboa ($7/mt)
• HSFO prices up in Houston ($11/mt), New York and Los Angeles ($6/mt), and down in Balboa ($8/mt)

Bunker prices have tracked Brent up in most key ports in the Americas, except in Balboa where prices for all conventional grades have dipped.

Balboa’s HSFO benchmark has fallen by $8/mt after a lower-priced 500–1,500 mt stem was fixed today at $437/mt, putting downward pressure on the benchmark.

The port’s LSMGO price has declined after a 150–500 mt stem was fixed at $708/mt.

Both Balboa and Cristobal have good availability across all three fuel grades, with deliveries possible within 3–5 days.

The price of HSFO has gained the most in Houston, where it continues to trade at a slight discount of $11/mt to New York. This has narrowed Houston's $30/mt discount seen a month ago.

HSFO availability has improved in Houston this week after suppliers restocked. Lead times have come down from last week’s 10–12 days to around 4–5 days, a bunker trader told ENGINE.

In Zona Comun, weather conditions remain moderate with brief early-morning gusts forecast to ease by midday. Bunker availability is normal, with lead times for barge deliveries of VLSFO and LSMGO at about 5–7 days.

Brent

The front-month ICE Brent contract has gained $1.29/bbl on the day, trading at $66.22/bbl at 08.00 CDT (13.00 GMT) today.

Upward pressure:

Brent crude has gained upward momentum after the US Energy Information Administration (EIA) slightly raised its 2025 global oil demand growth forecast.

The US energy agency previously projected oil demand to grow by 900,000 b/d this year. It now forecasts demand growth at 1.1 million b/d in both 2025 and 2026, to average around 104 million b/d and 105 million b/d, respectively.

Most of the demand growth will be driven by non-OECD countries including China and India, the US agency said.

The EIA’s modest upward revision “may be prompting some bargain-hunting buying [in the oil market],” remarked Vanda Insights’ founder Vandana Hari.

Downward pressure:

Brent’s rally has been capped after the American Petroleum Institute (API) reported a 2.8 million-bbl surge in US crude stocks in the week ending 3 October, higher than analysts' expectations of a 2.3 million-bbl build.

A rise in US crude stocks typically signals weaker demand for oil and can exert downward pressure on Brent's price.

By Gautamee Hazarika and Aparupa Mazumder

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