Most bunker prices are rising further with support from Brent in the Americas, while some prices have dropped amid lower-priced stems.
Changes on the day to 09.30 CST (14.30 GMT) today:
- VLSFO prices up in Houston ($10/mt), New York ($9/mt), Zona Comun ($4/mt) and Los Angeles ($2/mt), and down in Balboa ($3/mt)
- LSMGO prices up in New York ($11/mt), Balboa ($8/mt), Houston ($6/mt) and Los Angeles ($1/mt), and down in Zona Comun ($14/mt)
- HSFO380 prices up in Houston ($4/mt), New York ($3/mt) and Los Angeles ($2/mt), and down in Balboa ($3/mt)
Houston’s VLSFO price has jumped and moved to a $4/mt premium over New Orleans, after New Orleans’ price rose $17/mt above Houston’s earlier this week.
HSFO380 and LSMGO price gains in Houston have been capped by a lower-priced combined stem for the two grades today.
Balboa’s VLSFO price has run counter to price moves for the grade in other ports and dropped by $3/mt under pressure from a lower-priced stem. The drop has halved the Panamanian port’s premium over Houston to $12/mt now.
Panama’s bunker demand fell by 11% between May and June, data from the Panama Maritime Authority showed today. Sales of VLSFO, HSFO and 0.50% MGO all fell on the month, while LSMGO recorded a slight increase.
Brent
Front-month ICE Brent has risen by $0.88/bbl on the day to $76.22/bbl at 09.30 CST (14.30 GMT).
Brent has been volatile today amid contrasting news reports on the ongoing OPEC+ impasse. An OPEC+ source told Reuters a compromise had been made that would grant the UAE an update of its baseline production level to reflect its higher production capacity.
The UAE had set this as a condition for backing the group’s output policy, which included easing production cuts by 400,000 b/d in every month between August and December, and extending the OPEC+ pact from April next year until the end of the year.
The UAE later today said no agreement has been reached.
“Deliberations and consultations between concerned parties are ongoing,” the UAE’s energy minister said in a statement reported by Reuters.
The US Energy Information Administration (EIA) has delayed the release of its weekly petroleum status report because of technical issues. It was originally set to be published at 14.30 GMT.