Fuel prices have moved in mixed directions, and no tropical cyclones are expected over the next seven days.

IMAGE: Container vessels docked in the Port of Balboa. Getty Images

Changes on the day to 03.00 CST (9.00 GMT) today:

• VLSFO prices up in Balboa ($4/mt), Houston ($2/mt) and Los Angeles ($1/mt), and down in New York and Zona Comun ($4/mt)
• LSMGO prices up in Houston, New York ($3/mt) and Los Angeles ($1/mt), and down in Balboa ($18/mt) and Zona Comun ($7/mt)
• HSFO prices up in Balboa ($3/mt), Houston ($2/mt) and New York ($1/mt), and down in Los Angeles ($1/mt)

Balboa's LSMGO price has fallen significantly in the past day. Meanwhile, the port's HSFO and VLSFO prices have gained by $3/mt and $4/mt respectively, widening the port's Hi5 spread to $18/mt today.

VLSFO and LSMGO are available within 3–5 days at both Balboa and Cristobal.

In Houston and New York, LSMGO prices have gained by an equal measure, maintaining New York's premium over Houston at $61/mt, which is a $6/mt gain from the premium it held a month ago.

New York is currently facing rough weather conditions, and adverse weather is likely to cause significant disruptions to bunkering operations between 7–11 November.

In the Atlantic, Eastern Pacific, and Central Pacific regions, weather conditions have begun to stabilize with the hurricane season ending this month.

The National Hurricane Center has said that no tropical cyclone activity is expected in the next seven days.

Brent

The front-month ICE Brent contract has moved $0.16/bbl lower on the day, to trade at $64.07/bbl at 03.00 CST (9.00 GMT) today.

Upward pressure:

Brent crude has held some ground this week amid concerns of potential supply disruptions, as Western nations continue to tighten sanctions on Russia.

In October, the US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned Rosneft and Lukoil, along with 34 of their subsidiaries.

Rosneft and Lukoil are Russia’s two largest oil producers, producing around 50% of the country’s total oil production, according to ING Bank’s head of commodities strategy, Warren Patterson.

“Successfully restricting these flows could dramatically change the outlook for the oil market,” Patterson said.

Downward pressure:

Eight members of the OPEC+ coalition have collectively decided to increase supply again by 137,000 b/d in December, marking the eighth consecutive month that the Saudi Arabia-led group has planned to hike production.

Saudi Arabia will produce around 10.1 million b/d in December – largely matching November’s figures. Russia will produce 9.6 million b/d, while Iraq and the UAE will produce 4.3 million b/d and 3.4 million b/d respectively, the OPEC secretariat said.

The decision has put downward pressure on Brent’s price, as signals of further supply additions typically pressure the market in an already oversupplied environment.

“For now, our balance sheet continues to show a significant surplus in 2026, which should keep downward pressure on prices,” Patterson added.

By Gautamee Hazarika and Aparupa Mazumder

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