Americas Market Update 13 Nov 2025

Most bunker benchmarks have declined, and LSMGO is readily available in Rio de Janeiro.

IMAGE: Cruise ship docked in Rio de Janeiro. Jorge Andrade-Wikimedia Commons

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

• VLSFO prices down in Houston ($18/mt), New York ($13/mt), Los Angeles, Zona Comun ($12/mt) and Balboa ($10/mt)
• LSMGO prices down in Zona Comun ($28/mt), Houston, Balboa ($20/mt), New York and Los Angeles ($1/mt)
• HSFO prices down in Balboa ($18/mt), Houston ($15/mt), New York ($12/mt) and Los Angeles ($10/mt)

Conventional bunker fuel prices have dropped with Brent in several ports across the Americas.

Three 150-500 mt LSMGO stems have been fixed in Houston at levels below where its benchmark stood yesterday and weighed on the price. One smaller 50-150 mt LSMGO stem has been fixed at a higher price and countered part of the price drop.

Houston suppliers are seeing good demand this week. Leads times of 5-7 days are recommended for all fuel grades. LSMGO stems have been fixed with lead times of 3-7 days, but also prompter 0-3 days.

Bunker demand has been slow in Panama this week. Prompt deliveries are possible in Balboa. VLSFO has been fixed there with a lead time of 3-7 days this week.

Further south, Rio de Janeiro's VLSFO price has defied the general market trend and recorded a small gain. VLSFO availability is tight, while LSMGO is readily available.

Brent

The front-month ICE Brent contract has lost by $1.29/bbl on the day, to trade at $63.15/bbl at 07.00 CST (13.00 GMT) today.

Upward pressure:

US President Donald Trump signed a legislation yesterday to officially end the longest federal government shutdown in the history of the country.

The legislation reinstates funding for essential federal operations that were affected by the 43-day government shutdown.

The bill got clearance from the US House of Representative and the US Senate earlier, bringing some relief, as the shutdown had dampened demand in the world’s largest oil-consuming nation by slowing federal operations, according to analysts.

With activities resuming, fuel consumption is expected to pick up.

Downward pressure:

Brent crude’s price has declined sharply as the Organisation of the Petroleum Exporting Countries (OPEC) estimated that global crude supplies will continue to exceed oil demand.

Total crude oil production by OPEC+ members averaged 43.02 million b/d last month, about 73,000 b/d lower than in September.

Oil production by OPEC+’s de-facto leader, Saudi Arabia, increased by 43,000 b/d in October to a little over 10 million b/d. Russia – the coalition’s second-largest producer – increased production by 47,000 b/d to 9.4 million b/d during the same time.

Meanwhile, the latest inventory report from the American Petroleum Institute (API) also weighed on Brent’s price. US crude oil inventories gained by 1.3 million bbls in the week ending 7 November, API reported.

“The decline was largely driven by OPEC’s revised surplus expectations for the global oil market, along with a bearish inventory report from the API,” two analysts from ING Bank noted.

By Samantha Shaji and Aparupa Mazumder

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