Bunker fuel prices have moved in mixed directions, and bunkering operations in Houston may be delayed due to dense fog in the region.

IMAGE: Aerial view of the Port of Houston, Texas. Getty Images

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

• VLSFO prices up in Houston and Los Angeles ($2/mt), and down in Balboa ($18/mt), New York and Zona Comun ($13/mt)
• LSMGO prices up in Houston ($22/mt), and down in New York ($19/mt), Balboa ($9/mt) and Los Angeles ($4/mt)
• HSFO prices up in Balboa ($20/mt) and Houston ($4/mt), and down in New York ($8/mt) and Los Angeles ($2/mt)

The port of Houston has recorded an increase in prices across all three conventional fuel grades.

The port's VLSFO price has gained $2/mt, while its HSFO has risen by double that amount, bringing the port’s Hi5 spread to $64/mt today, which is a strong recovery from the $18/mt recorded on 22 October.

The Houston area is experiencing strong storm fronts along with dense fog, leading to reduced visibility across the region.

"Dense fog is prominent in the region. This can cause delays in bunkering, but operations are currently ongoing with caution," a bunker trader said.

New York’s HSFO price has recorded the steepest decline, while Houston’s price has increased for the grade. Nonetheless, New York is currently at a $30/mt premium to Houston, up from the $16/mt premium it held a month ago.

Meanwhile, Balboa’s Hi5 spread has seen a sharper contraction after the port’s VLSFO price fell by $18/mt while its HSFO rose by $20/mt, narrowing the spread to $23/mt today from $59/mt last Friday.

In Balboa and Cristobal, VLSFO and LSMGO can be delivered with lead times of 4–6 days. HSFO requires longer lead time of 5–7 days.

Brent

The front-month ICE Brent contract has lost $0.12/bbl on the day from Friday, to trade at $62.94/bbl at 07.00 CST (13.00 GMT) today.

Upward pressure:

Oil prices have received support as OPEC+ members reaffirmed their plan to hold output steady, and the Caspian Pipeline Consortium suspended exports following a major drone attack.

After its 40th OPEC and non-OPEC ministerial meeting on Sunday, the group said eight OPEC+ members will keep oil production unchanged through the first quarter of 2026 — a move widely expected by market participants, who reacted positively to the announcement.

“The decision highlights some caution by the alliance and still leaves the market facing a significant glut of oil in early 2026,” noted ANZ Bank senior commodity strategist Daniel Hynes.

The Caspian Pipeline Consortium — whose shareholders include Russia, Kazakhstan and the US — reported that it halted operations after a mooring at its Russian Black Sea terminal was damaged by a Ukrainian drone over the weekend, Reuters said. This disruption has added some upward pressure on Brent.

“Oil prices are trading firmer… following additional attacks on Russian energy infrastructure over the weekend,” commented two analysts from ING Bank.

Fresh uncertainty was added on Saturday when US President Donald Trump said “the airspace above and surrounding Venezuela” should be considered closed, according to Reuters, given the country’s role as a major producer.

“Adding support to the market is increasing supply risks for Venezuelan crude oil after President Trump said he's considering closing the airspace over the nation,” two analysts from ING Bank added.

Downward pressure:

The US Energy Information Administration (EIA) reported a strong build in crude inventories, which has curbed some of Brent’s gains today.

Commercial crude stocks rose by 2.8 million bbls to 427 million bbls in the week ending 21 November, according to EIA data.

By Gautamee Hazarika and Tuhin Roy

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