Singapore bunker fuel oil prices eased on Thursday as lower benchmark crude and oil products prices countered support from healthy demand.
Dealers quoted heavy 380-centistoke (cst) bunker fuel oil down $2 from Wednesday at $170-$172 a tonne, while prices for the lighter 180-cst maintained their $6 premium to 380-cst prices.
"We could hit the week's low price today, but it might also turn around since the lower prices have sparked a little demand and crude has rebounded," said an independent trader.
Benchmark NYMEX US light crude futures for June delivery were up 20 cents at $35.93 a barrel at 1141 GMT, climbing from a 77 cent drop on Wednesday.
Singapore's marine gas oil prices were unchanged from Wednesday at about $294 a tonne on steady demand for use as a blendstock to lessen the viscosity of much of the high fuel oil supply arriving expected to arrive in May.
Singapore's fuel oil stocks rose 205,000 barrel to 11.217 million barrels in the week ended Wednesday, hitting a level more than double the inventories recorded in the same week last year, the latest government trade data showed.