Singapore bunker prices fell on Wednesday, but bunker premiums remained stable at $3-$5 a tonne, indicating that demand-supply is balanced, traders said.
Prices for 380-centistoke (cst) bunker fuel were pegged at $329-$331 a tonne, down $3 from Tuesday's Asian close, with the differential to fuel oil weaker at a premium of $3.15, down $1.80.
In the regional markets, prices were stable-to-higher compared to week-ago levels as suppliers struggled to balance slow demand with attractive prices, particularly in South Korea and Hong Kong.
Traders said demand in South Korea had been slow all month due to high outright prices despite some refiners cutting the bunker premium.
Comments
Comments are closed.