Americas Market Update 20 Nov 2025

Conventional bunker prices have moved in mixed directions, and prompt VLSFO and LSMGO deliveries are available in Balboa.

IMAGE: Container ship docked in the Port of Balboa. Getty Images

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

• VLSFO prices up in Los Angeles ($6/mt) and Zona Comun ($5/mt), unchanged in Houston, and down in New York ($19/mt) and Balboa ($3/mt)
• LSMGO prices up in Zona Comun ($19/mt), Los Angeles, Houston ($11/mt) and New York ($5/mt), and down in Balboa ($12/mt)
• HSFO prices up in Balboa ($6/mt), New York, Los Angeles ($5/mt) and Houston ($1/mt)

Prices for most grades across the Americas have increased over the past session.

New York’s VLSFO price has defied the general market trend and fallen. A lower-priced 150-500 mt VLSFO stem fixed at $451/mt has applied downward pressure on the benchmark.

This has also contributed to narrow New York's Hi5 spread from $60/mt to $36/mt.

Balboa is another port that has seen a considerable narrowing in its Hi5 spread. A lower-priced 150-500 mt VLSFO stem fixed at 449/mt has contributed to shrink the Hi5 spread.

LSMGO prices have gone up in most ports, except in Balboa, where it has dropped amid a lower-priced 150-500 mt LSMGO stem fixed at $781/mt.  

Balboa’s LSMGO price is now at a premium of $54/mt over Houston, while at discounts of $269/mt to Zona Comun, $26/mt to Los Angeles and $16/mt to New York.

Prompt deliveries of LSMGO and VLSFO remain available in the Panamanian port.

Brent

The front-month ICE Brent contract has gained by $1.04/bbl on the day, to trade at $63.12/bbl at 07.00 CST (13.00 GMT) today.

Upward pressure:

The US Energy Information Administration’s (EIA) latest inventory report has added some upward pressure on Brent’s price today.

Commercial US crude oil inventories have declined by 3.4 million bbls to 424 million bbls for the week ending 14 November, according to data from the EIA.

A drop in US crude stocks typically indicates higher demand and can lend some support to Brent's price.

“The decline was driven by stronger crude exports, which grew 1.34m b/d [1.34 million b/d] week on week,” remarked two analysts from ING Bank.

Downward pressure:

Reports that the US and Russia are working on a ceasefire deal for Ukraine has dragged Brent’s price lower today.

The US and Russian administrations have been “secretly working” on a new plan to end the conflict in Ukraine, Axios reported, citing officials from both countries.

These developments have helped soften the blow of US sanctions targeting two of Russia’s biggest oil companies – Rosneft and Lukoil.

“Signs that the US is still trying to work on a deal eases some concerns over further sanctions against Russia and also how strongly current curbs [on Lukoil and Rosneft] will be enforced,” ING Bank’s analysts added.

By Samantha Shaji and Aparupa Mazumder

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