Prices for conventional bunker fuels have moved in mixed directions, and New York is forecast with strong wind gusts.

IMAGE: View of the entire Port of Los Angeles, US. Port of Los Angeles

Changes on the day to 07.00 CST (13.00 GMT) today:

• VLSFO prices up in Balboa ($10/mt) and Los Angeles ($4/mt), unchanged in Houston, and down in New York ($1/mt)
• LSMGO prices up in Houston ($15/mt), Los Angeles, Balboa ($14/mt) and New York ($5/mt)
• HSFO prices up in Los Angeles ($4/mt), New York ($3/mt) and Balboa ($1/mt), and down in Houston ($5/mt)

Balboa’s VLSFO price has gained in the past session, recording the biggest price increase for the grade among major ports. Its discount to Los Angeles has been reduced to $43/mt, while its discount to New York is only $7/mt. Its premium over Houston has widened to $25/mt.

Balboa’s Hi5 spread has widened for the second time this week, increasing by $9/mt to $43/mt.

Los Angeles’ Hi5 spread is unchanged on the day at around $100/mt.

Los Angeles’ VLSFO price currently holds premiums of $68/mt over Houston, $43/mt over Balboa and $36/mt over New York. Bunkering continues as normal in Los Angeles, with all three grades available within 5–7 days.

On the opposite coast, New York’s Hi5 spread has narrowed slightly, inching down to $48/mt in the past session. Though all grades can be supplied, westerly wind gusts of 20–37 knots are forecast until tomorrow afternoon, which could delay some bunker operations.

Brent

The front-month ICE Brent contract has gained $0.52/bbl on the day, to trade at $64.43/bbl at 07.00 CST (13.00 GMT) today.

Upward pressure:

Oil prices have gained support amid concerns over potential supply disruptions in the global market.

Russian oil company Lukoil has declared force majeure at its 400,000 b/d West Qurna-2 oilfield in Iraq, following sanctions imposed by the US and the UK, Reuters reported, citing sources.

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, accounting for around 50% of the country’s total oil production.

Following Washington’s move, Iraq has stopped all cash and crude payments to Lukoil, Reuters added. 

“The announcement by the US of sanctions on two Russian oil producers has created more supply uncertainty in the oil market,” remarked ING Bank’s head of commodities strategy Warren Patterson.

Downward pressure:

Brent’s price gains have been limited due to lingering concerns over an oversupplied market this year and into early 2026.

OPEC+ producers have agreed to collectively increase their production by another 137,000 b/d in December.

“The glut of oil triggered by rising OPEC supply has seen investors become increasingly bearish in recent weeks,” ANZ Bank’s senior commodity strategist Daniel Hynes said.

By Samantha Shaji and Aparupa Mazumder

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