Americas Market Update 13 May

Fuel prices have mostly decreased, and bunker deliveries have been suspended at Zona Comun.

IMAGE: Aerial view of the ports of Long Beach and Los Angeles. Getty Images.

Changes on the day to 08.00 CDT (13.00 GMT) today:

• VLSFO prices up in Zona Comun ($14/mt), and down in Houston ($28/mt), New York ($24/mt), Balboa ($12/mt) and Los Angeles ($8/mt)
• LSMGO prices up in Zona Comun ($18/mt), and down in Los Angeles ($70/mt), New York ($22/mt), Houston ($20/mt) and Balboa ($7/mt)
• HSFO prices up in Los Angeles ($15/mt) and New York ($1/mt), and down in Houston ($51/mt) and Balboa ($16/mt)

The prices of VLSFO and LSMGO at Zona Comun have recorded the highest gains over the past session.

Deliveries in the anchorage location have been suspended due to high wind gusts blowing above 20 knots but are expected to resume shortly, a trader said.

Los Angeles' HSFO price benchmark has recorded the highest gain for the grade and is currently trading at premiums of $195/mt to New York and $181/mt to Houston.

The port's VLSFO price has decreased after a lower-priced VLSFO stem was booked at $1,069/mt, putting downward pressure on the benchmark.

The West Coast port's LSMGO price benchmark has also significantly dipped after a lower-priced LSMGO stem fixed at $1,384/mt, put downward pressure on the benchmark.

Bunker demand is healthy at the port, while availability has been a bit tight with recommended lead times standing over a week, for all three grades, a source said.

Brent

The front-month ICE Brent contract has gained $0.30/bbl on the day, to trade at $107.47/bbl at 08.00 CDT (13.00 GMT) today.

Upward pressure:

Brent crude’s price has continued to move higher as risks of oil supply disruptions in the Middle East remain elevated.

“Ten weeks on from the start of the Iran war and energy markets remain in limbo,” analysts from ING Bank noted.

Senior US and Chinese officials have reportedly agreed that no country should ​be allowed to collect shipping tolls to pass through the Strait of Hormuz, the US state department told Reuters.

This development has added upward pressure on oil prices as market analysts interpret it as a sign that Washington and Beijing are seeking common ground in efforts to pressure Tehran into relinquishing control over the strategic waterway.

“If Hormuz remains shut, the second quarter of 2026 will see the largest quarterly crude inventory drawdown in history at 6.5mb/d [6.5 million b/d],” ANZ Bank’s senior commodity strategist Daniel Hynes said.

Downward pressure:

While there are no significant downward pressures on Brent’s price today, market participants will closely watch the highly anticipated meeting between US President Donald Trump and Chinese President Xi Jinping during Trump's state visit to Beijing later this week.

The visit is expected to include talks focused on the evolving situation in the Middle East, while also helping pave the way for broader future cooperation.

Market analysts expect China to “use its influence” to persuade Iran closer towards a ceasefire deal, two analysts from ING Bank noted. “Clearly, this is easier said than done,” they added.

By Gautamee Hazarika and Aparupa Mazumder

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