Singapore bunker prices fell on Friday as their premium to fuel oil cargo values slid after suppliers slashed offers to clear leftover May barrels while berth congestions start to ease, traders said.
Prices for 380-centistoke (cst) bunker fuel were pegged at $326-$328 a tonne, down $3 from Thursday's Asian close, with the differential to fuel oil at 87.5 cents, down from a premium of $3.25.
"There are quite a few desperate sellers out there who are still holding on to their expensive May barrels. In a falling market, they have to sell as soon as they can, to cut losses," a Singapore-based bunker trader said.
"Also, the congestion is starting to ease and at least one of the commercial terminals have recommenced loading operations. By Sunday, things are expected to be back to normal."
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