Singapore bunker prices were stronger as tight supplies boosted the shipping fuel amid healthy demand through the first week of January, traders said.
Traders pegged 380-centistoke (cst) fuel oil at $159/$161 a tonne, up $1.00 from quotes on Wednesday. They also pegged 180-cst material $1.00 over Wednesday at $164/$166.
"We are only offering now from January 9 onwards, but there is good demand next week," said a trader with an oil major.
Inquiries were heard in the 8,000 to 15,000-tonne range, traders said.
Prices have also been boosted by an unexpected draw in Singapore inventories of residual fuels which fell 925,000 barrels, or 8.9 percent, to 9.460 million barrels in the week from December 23-29, according to International Enterprise.
Traders quoted gas oil prices at $278/$280 a tonne, a $4.50 gain on Wednesday.
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