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ENGINE: Americas Bunker Fuel Availability Outlook

Availability has improved with resupply in Vancouver, and Gulf Coast ports remain well supplied amid steady inventory levels.

Major bunker ports along the US Gulf Coast ports have readily available stems of all grades. Residual fuel oil inventories in the region have been steady at 17-18 million bbls since the start of the year, following a build from up from 2-3 million bbls in December.

Gulf Coast refinery production of fuel oil has fallen sharply from a peak of 70,000 b/d in March to just 21,000 b/d so far in June.

Supply is tight at the Galveston Offshore Lightering Area (GOLA), where VLSFO, HSFO380 and LSMGO are priced around $30-50/mt higher than in Houston.

HSFO380 continues to be tight in in US West Coast ports, including Los Angeles and Long Beach. Los Angeles price discount to San Francisco has narrowed from around $20/mt two months ago, to $12/mt now.

All fuel grades have been limited in Vancouver in recent week. Suppliers in the port were replenished this week, but availability for prompt dates can be tight. Vancouver’s price premium over Los Angeles shot up to about $40/mt two months ago, but has gradually narrowed to just $1/mt now.

New York has good availability across fuel grades, and VLSFO and LSMGO at the lowest levels along the US East Coast. HSFO380 can be found nearly $30/mt lower-priced in Norfolk further south on the coast, however. Norfolk’s price dipped below New York’s in early January and has generally been at discounts of more than $20/mt since February.
Source: ENGINE (https://engine.online/)

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