Singapore bunker prices were lower on Friday as bunker premiums eased off the previous day's unexpectedly high levels, traders said. Prices for 380-centistoke (cst) bunker fuel were pegged at $309-$311 a tonne, down $6 from the previous day, with the bunker premium - the differential between bunker prices and fuel oil cargo values - falling by $1.25 to $8.13.
"There's barely any demand out there. Despite that, deals are getting done at relatively low levels of around $310 a tonne and some even as low as $308," a Singapore-based trader said.
"I am not sure whether the reasons for the relatively firm premiums are down to the fact that sellers have cleared their October barrels or just a lack of buying pressure."