Singapore bunker prices rose on Wednesday as tight supplies and an overnight rise in benchmark crude oil values gave support amid slow trading.
Dealers said 380-centistoke (cst) bunker fuel oil was pegged at $171 a tonne, up $1 from Tuesday, while 180-cst rose an equal amount to $178 a tonne.
"Few deals are being done at these high levels even though the interest is there. It seems ship-owners are waiting to buy until they can't wait any longer," one trader said.
Available prompt-lifting supply was tightened as port terminals were congested by ships unloading oil cargoes, making it difficult to schedule refuelling.
Marine gas oil rose on support from crude to hear quotes at $288 a tonne, up $2 from Tuesday.
Elsewhere in the region, prices were mostly higher, boosted by support from crude and tight supplies.
Tokyo Bay prices stretched their premium to Singapore to nearly $28 a tonne, up from $26 last week, with 380-cst quotes reaching $197/$199 a tonne as refiners allocated less bunker fuel oil, traders said.
But traders in Hong Kong said sluggish demand and an influx of supply sapped support from rising crude to see prices remain flat on the week with 380-cst pegged at $182 a tonne.
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