Americas Market Update 20 Feb

Fuel prices have moved in mixed directions, and the Galveston and Houston Pilots have suspended operations today due to dense fog.

IMAGE: Cranes in the Port of New York and a silhouette of the Statue of Liberty. Getty Images.

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

• VLSFO prices up in Houston ($1/mt), unchanged in Los Angeles, and down in New York ($8/mt) and Balboa ($2/mt)
• LSMGO prices up in Houston ($4/mt), unchanged in Los Angeles and Balboa, and down in New York ($7/mt)
• HSFO prices unchanged in Los Angeles, and down in New York ($8/mt), Houston and Balboa ($2/mt)

The port of Houston has recorded the highest price gains for VLSFO and LSMGO in the past day.

However, Houston’s VLSFO has continued to trade at wide discounts of $116/mt to Los Angeles and $71/mt to New York, making the port a more competitive and cost-effective option for the grade.

Fog season continues to intermittently cause suspensions in port operations. Both, the Houston and Galveston Pilots, have currently suspended operations due to poor visibility and dense fog in the region, a ship agency said.

In Galveston, two dockings and two sailings have been impacted by the suspension, while in Houston, 34 dockings and 15 sailings have been affected.

The port of Los Angeles has not recorded any price movements across the three conventional fuel grades. Bunker demand on the West Coast remains normal, with lead times ranging between 6–7 days.

The Port of Los Angeles has announced a recorded decrease in cargo traffic, processing 812,000 Twenty-Foot Equivalent Units (TEUs) in January 2026, marking a 12% decline compared to last year’s cargo levels.

Brent

The front-month ICE Brent contract has lost by $0.02/bbl on the day to trade at $71.35/bbl at 07.00 CST (13.00 GMT) today.

Upward pressure:

Brent crude’s price has found support after the US Energy Information Administration (EIA) reported a massive drop in crude stocks.

Commercial US crude oil inventories have decreased by 9 million bbls to 420 million bbls for the week ending 13 February, according to data from the EIA.

A drop in US crude stocks usually signals stronger demand and can offer some support to Brent’s price.

The EIA data provided support to Brent’s price “with a bullish release,” two analysts from ING Bank noted.

Meanwhile, recent comments from US President Donald Trump have put some upward pressure on Brent, according to market analysts.

Trump has set a deadline of 10-15 days for Iran to make a deal with Washington over its nuclear program, or "really bad things" will happen, Reuters reported.

“Any outbreak of fighting would jeopardise flows from a region that pumps about a third of the world’s supplies,” ANZ Bank’s senior commodity strategist Daniel Hynes said.

Downward pressure:

There are no significant downward pressures on Brent’s price momentarily, however, market analysts remain cautious about further developments in the Iran-US nuclear talks.

Earlier this week, representatives from both nations met for negotiations in Geneva, Switzerland.

Washington said that Iran will submit a detailed proposal in the coming two weeks, according to another Reuters report.

By Gautamee Hazarika and Aparupa Mazumder

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