Singapore bunker prices were higher on Wednesday but the differential to cargoes flipped back to negative after holding a premium for two days, traders said.
Prices for 380-centistoke (cst) bunker fuel were pegged at $325-$327 a tonne, up $11 from Tuesday, but the differential to fuel oil was at a discount of $1.40, down from a premium of 50 cents.
"Bunker prices simply could not match the gains in fuel oil cargo values. The way fuel oil prices went up today, no one wants to do anything," said an independent Singapore bunker supplier.
In the regional markets, prices were largely stable to week-ago levels.
Bunker prices in South Korea fell as refiners released March-allocation barrels following a tight February. However, traders warned that March parcels are limited as refiners had cut runs for the month.
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