Singapore bunker prices were lower on Monday with the differential to cargo values falling to a slight discount, as sellers undercut each to attract buying interest, traders said.
Prices for 380-centistoke (cst) bunker fuel were pegged at $324-$326 a tonne, down $3 from Friday, with the differential to fuel oil at a discount of 80 cents, down from a premium of 20 cents.
"After last Friday's craziness, it would seem that activity is returning to the market. Enquiry levels are healthy and sellers are seriously looking to sell," said an independent Singapore bunker supplier.
"But there is an air of guardedness and no one is actually trying to play hero by showing out-of-market numbers. Demand is not fantastic but it's an improvement over Friday."
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