Americas Market Update 27 Apr

Bunker fuel prices have moved in mixed directions, and deliveries in Zona Comun have been suspended due to strong wind gusts.

IMAGE: The Atlantic entrance to the Panama Canal. Getty Images.

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

• VLSFO prices up in Houston ($18/mt), Balboa ($14/mt) and New York ($13/mt), and down in Zona Comun ($65/mt) and Los Angeles ($3/mt)
• LSMGO prices up in Balboa ($34/mt) and New York ($22/mt), and down in Zona Comun ($141/mt), Los Angeles ($39/mt) and Houston ($11/mt)
• HSFO prices up in New York ($7/mt), unchanged in Los Angeles, and down in Houston ($15/mt) and Balboa ($13/mt)

Zona Comun's VLSFO and LSMGO price benchmarks have declined the most over the past session.

Bunkering has currently been suspended at the anchorage due to high wind gusts blowing above 20 knots.

VLSFO and LSMGO availability is normal at Zona Comun, with lead times of around 5–6 days.

Balboa's HSFO price has also declined, while the port's VLSFO price has recorded the second-highest increase across all key ports for the grade.

These price movements have brought the port's Hi5 spread to $114/mt today from $87/mt on Friday.

Availability at Balboa and Cristobal is normal, with most suppliers able to deliver HSFO, VLSFO, and LSMGO within 3–6 days of lead time.

Brent

The front-month ICE Brent contract has gained $1.65/bbl on the day from Friday, to trade at $107.16/bbl at 08.00 CDT (13.00 GMT) today.

Upward pressure:

Brent’s price has risen, inching towards $108/bbl, as peace talks between US and Iran remain stalled and vessel movement through the Strait of Hormuz remains restricted.

Hopes of reviving negotiations between the two countries faded over the weekend after US President Donald Trump cancelled his envoys Steve Witkoff and Jared Kushner’s planned visit to Islamabad on Saturday.

Meanwhile, Iran’s Foreign Minister Abbas Araqchi met mediators in Oman and Pakistan before travelling to Russia.

“Embarking on timely tour of Islamabad, Muscat, and Moscow. Purpose of my visits is to closely coordinate with our partners on bilateral matters and consult on regional developments,” Araqchi said in a social media post on Friday.

Separately, the US has vowed to continue blockading ships doing business with Iran as they pass through the Strait of Hormuz.

“That blockade is ongoing and continues to become more effective and stronger,” US secretary of war Pete Hegseth said during a press briefing on Friday.

Downward pressure:

Brent’s price felt some downward pressure following an increase in the US crude oil stocks.

Commercial US crude oil inventories increased by 1.9 million bbls to about 466 million bbls in the week ending 17 April, according to data from the US Energy Information Administration (EIA).

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

By Gautamee Hazarika and Shilpa Sharma

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