Singapore bunker fuel prices up

12 Jun, 2004

Singapore bunker or ship fuel prices inched up on Friday, supported by a rise in prompt demand in an amply supplied market.
Singapore 380-centistoke was quoted at $183/$184 a tonne, up from $2 from Thursday.
"Demand is quite healthy today. Ship-owners are seeing good deals," said an oil major trader who said 5,000 tonnes had been sold so far and that there were inquiries for 15,000 tonnes more.
This was up from some estimates of Thursday's demand level of only 7,000 tonnes.
Singapore's onshore stocks peaked at 13.495 million barrels this week, Singapore government data showed.
Traders said that they expected supply to continue to swell from this five-year high.
July Brent crude futures was up one cent at $35.75 a barrel in light trade at 1034 GMT.
NYMEX was closed on Friday to mark a day of mourning for former US President Ronald Reagan who died on Saturday. On Thursday, NYMEX July crude rose 91 cents to settle at $38.45 a barrel.

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