Singapore bunker prices eased on Wednesday, despite higher fuel oil cargo values. Prices for 380-centistoke (cst) bunker fuel were pegged at $265-$267 a tonne, down $4 from Monday, as suppliers slashed offers to spur demand.
The differential to cargo values remained negative at $1-$2 a tonne.
"This is an improvement over discount levels of $3-$4 a tonne of the past two to three weeks. Part of the reason is that there has been some congestion at the terminals and loadings had to be delayed," a Singapore-based trader said.
In regional markets, prices were higher but Japanese suppliers were keeping offer levels low due to high inventories. In contrast, Hong Kong suppliers are keeping offers high due to a lack of cargoes as a shipment was delayed.
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