Singapore bunker prices fell on Friday but demand remained strong for a fourth consecutive day with the differential to fuel oil cargo values rebounding to a slight premium, traders said.
Prices for 380-centistoke (cst) bunker fuel were pegged at $330-332 a tonne, down $4 from Thursday's Asian close, while its differential to fuel oil was at a slight premium of 80 cents, up from a 85-cent discount.
"As long as prices keep falling, the market will probably stay at around parity levels and demand will remain healthy because the belief is that levels could go up quite rapidly," said a Singapore-based bunker trader.
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