Singapore bunker prices eased on Monday, due to worries about high supplies, sluggish demand and weak crude, although ship-owners were starting to check out the market.
Dealers said 380-centistoke (cst) bunker fuel oil was pegged at $178-$182 a tonne, down $3 from Friday, while 180-cst prices were pegged $7 above 180-cst prices.
"As prices come off, ship-owners are showing some interest but they are still very slow to make actual big buys. They're waiting for better deals," a Singapore-based trader said.
Ship-owners sought about 8,500 tonnes, traders said, up about 1,500 tonnes from Friday's session.
But brokers said since Singapore fuel oil stocks are their highest in more than five years, ship-owners feel they can wait in the expectation prices will fall.
Singapore's onshore stocks hit 13.495 million barrels last week and trader said they expected supply to swell further given the weakness of the cargo market.
Marine gas oil was pegged at about $309 a tonne, down $5 from Friday as the market eased with lower benchmark crude, traders said.
NYMEX July crude was down 50 cents at $37.95 a barrel at 1002 GMT, and July Brent crude futures were up six cents at $35.50 a barrel.
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