Singapore bunker prices for fuel oil were mostly flat on Friday despite firmer cargo prices and growing demand as traders said the market stayed a washed in supply.
They pegged 380-centistoke (cst) bunker fuel oil at $182/$183 a tonne, mostly steady from Thursday. At least 5,000 tonnes of fuel oil were sold by a major around those levels, traders said.
Independents were quoting 380-cst lower at $179 a tonne.
Inquiries were widely ranged, but traders said overall demand had picked up from earlier in the week.
"We've had 10,000 to 11,000 tonnes in inquiries today," said a trader.
Another trader heard requests as high as 20,000 tonnes.
Singapore fuel oil inventory levels of residual fuels rose to a nine-year high just a week ago. Stocks eased just 866,000 barrels in the week to Wednesday to 13.055 million barrels, government data showed.