Americas Market Update 13 Feb

Fuel prices have declined across all key ports in the Americas, while the Houston Ship Channel is closed to all vessel traffic due to dense fog.

IMAGE: A fully loaded container ship heading toward the Port of Houston. Getty Images

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

• VLSFO prices down in New York ($14/mt), Los Angeles, Balboa ($13/mt), Houston and Zona Comun ($11/mt)
• LSMGO prices down in New York ($36/mt), Zona Comun ($23/mt), Los Angeles ($22/mt), Houston ($14/mt) and Balboa ($5/mt)
• HSFO prices down in Balboa ($16/mt), Los Angeles, New York ($13/mt) and Houston ($7/mt)

New York's LSMGO price has declined by the highest measure in the past day across all ports and across the three fuel grades. It is currently at premiums of $20/mt to Norfolk, $12/mt to Baltimore and $3/mt to Philadelphia.

In New York, VLSFO and LSMGO availability is normal, with lead times of 3–5 days. HSFO requires longer lead times but can be delivered in around 7 days, a source said.

The Houston Ship Channel has been closed to all traffic from 12:01 am (local time) on 13 February due to dense fog, a ship agent has said.

Additionally, vessel movements have been suspended in the Upper Houston Ship Channel between the Sam Houston Bridge and Green’s Bayou from 7:00 am–1:00 pm local time on 13 February 2026, citing ongoing pipeline and dive operations.

Bunker demand in Houston has held firm over the past week.

VLSFO and LSMGO availability is okay, but HSFO is getting slightly tight and requires lead times of at least 7–8 days. Meanwhile, VLSFO and LSMGO can be delivered by most suppliers within 5 days, a source said.

Brent

The front-month ICE Brent contract has lost by $1.68/bbl on the day, to trade at $67.32/bbl at 07.00 CST (13.00 GMT) today.

Upward pressure:

In its latest monthly market report, the Saudi Arabia-led OPEC group has maintained its 2026 global oil demand growth forecast at 1.4 million b/d, with total demand expected to average 106.52 million b/d for the year.

ING Bank analysts noted that OPEC’s projections remain above most other demand growth forecasts.

This comparatively stronger outlook has lent some support to Brent futures.

Downward pressure:

Oil prices have declined on receding concerns about US-Iran conflict that could affect supply.

US President Donald Trump commented on Thursday that the US could make a deal with Iran over the next month, according to Reuters.

“Prices fell… after traders pared back the Iran war premium, following comments from US President Donald Trump that significantly lowered the perceived threat of an imminent strike on the Islamic Republic,” said Vandana Hari, founder of VANDA Insights.

“Easing geopolitical tensions also weighed on the market,” ANZ Bank’s senior commodity strategist Daniel Hynes echoed.

The International Energy Agency (IEA) on Thursday projected in its monthly report that this year global oil demand growth will be weaker than previously expected, with overall supply set to exceed demand. This has added further downward pressure on oil prices.

IEA now expects global oil demand to grow by 850,000 b/d in 2026 - about 80,000 b/d lower than its previous estimate.

“Sentiment wasn’t helped by a bearish outlook from the International Energy Agency,” ANZ Bank’s Hynes commented.

Brent crude’s price has also been weighed down after the US Energy Information Administration (EIA) reported a big rise in US crude stocks.

Commercial US crude oil inventories increased by 8.5 million bbls to 428.8 million bbls for the week ending 6 February, according to data from the EIA.

A rise in US crude stocks can indicate lower demand for oil and put some downward pressure on Brent's price.

By Gautamee Hazarika and Tuhin Roy

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