Singapore bunker prices rose on Monday, tracking higher 380-cst fuel oil cargo values. Prices for 380-centistoke (cst) bunker fuel were pegged at $247-$249 a tonne, up $7 from the previous day, on moderate demand. The differential to cargo values remained negative but rebounded to $3.00 a tonne below cargo values, up from $6.25 last Friday.
"Prices were all over the place today, with offers as low as $245 a tonne to as high as $252. Most suppliers try to secure deals at levels in between, around $247-$248," a Singapore-based supplier said.
"That said, the market is still pretty bad and would probably remain in discount until mid-August at the earliest. Even with some revived demand from China, it's not helping because most of the cargoes here are high-viscosity, high-density stuff."
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