Singapore bunker prices rebounded on Friday, but the differential to cargo values stayed in deep discounts on thin demand. The discount was widened as suppliers, who are seen taking positions that first-half August is stronger than the second half, slashed offers.
Prices for the 380-centistoke (cst) were pegged at $390-$392 a tonne, up $2 from Thursday, with the differential at a discount of $2.90, down 5 cents.
"It's the same trend all week - suppliers are selling cheap because they think outright prices will be higher in the first half and above their month-average cost," a Singapore-based supplier said.
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