Americas Market Update 15 Oct 2025
Fuel prices have moved in mixed directions, while weather conditions have improved in New York.
IMAGE: Container vessels docked in the Port of Balboa. Getty Images
Changes on the day to 08.00 CDT (13.00 GMT) today:
- VLSFO prices up in Los Angeles ($9/mt), Balboa ($8/mt), unchanged in Houston, and down in Zona Comun ($3/mt)
- LSMGO prices up in Zona Comun ($28/mt), Balboa ($18/mt) and New York ($10/mt), and down in Houston ($2/mt)
- HSFO prices up in Balboa ($10/mt), New York ($6/mt) and Houston ($3/mt)
Balboa’s HSFO price has recorded the highest gain of $10/mt within the grade, while the port's VLSFO price increased by $8/mt, narrowing the Hi5 spread to a slim $5/mt.
"Availability-wise, port conditions are okay, but demand has been quiet so far," a bunker trader said.
According to bunker sales data for September, VLSFO continues to comprise 65% of total sales in Panama, with HSFO following next, making up 23% of sales.
Meanwhile, Houston’s LSMGO price has declined after a lower-priced 50–150 mt stem, booked today at the port at $644/mt, put downward pressure on the benchmark.
The port’s VLSFO price remains unchanged, after a 150–500 mt stem has been booked at $449/mt, keeping the benchmark fairly stable.
Houston currently reports good availability across all grades, with suppliers recommending lead times of 3–5 days for VLSFO and LSMGO.
New York, which has been facing high wind gusts and elevated sea conditions, is noting some improvements, making way for better bunkering conditions at the anchorage, a source said.
Brent
The front-month ICE Brent contract has gained $0.88/bbl on the day, trading at $62.86/bbl at 08.00 CDT (13.00 GMT) today.
Upward pressure:
Brent crude’s price has rebounded amid signs of easing trade tensions between the world's two largest oil consumers – the US and China.
US President Donald Trump is set to meet his Chinese counterpart, Xi Jinping, in South Korea later this month, Reuters reported, citing US Treasury Secretary Scott Bessent.
Both countries are expected to work towards easing tensions following recent tariff threats and export controls, the report added.
“Trump struck a conciliatory tone towards China on Sunday, after threatening to apply an additional 100% of tariffs,” ANZ Bank’s senior commodity strategist Daniel Hynes said.
Downward pressure:
Brent has remained under pressure after the International Energy Agency (IEA) cut its global oil demand growth forecast again.
The Paris-based agency now expects oil demand to increase by 700,000 b/d in 2025 and 2026, about 40,000 b/d lower than its previous estimate – and well below projected oil production levels, the IEA said.
“Sentiment wasn’t helped by warnings of a record surplus in the oil market,” Hynes said.
Additionally, global oil supply rose in September to a record 108 million b/d, up by a massive 5.6 million b/d compared with the same period last year, the IEA noted.
The agency projects global oil supply to grow by 3 million b/d to average 106.1 million b/d in 2025 and rise by another 2.4 million b/d in 2026.
“The projected surplus is up roughly 18% from last month’s estimate, as the OPEC+ alliance continues to revive output,” he added.
By Gautamee Hazarika and Aparupa Mazumder
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