Singapore bunker prices were lower on Monday as bunker premiums eased further to below $7 a tonne, traders said. Prices for 380-centistoke (cst) bunker fuel were pegged at $304-$306 a tonne, down $5 from the previous day, with the bunker premium - the differential between bunker prices and fuel oil cargo values - falling by $1.75 to $6.38.
"There's some buying pressure out there, testing suppliers' resolve to keep offers at premiums of above $7-$8 a tonne and they obviously failed to do so," a Singapore-based trader said.
"This shows that there are still sellers out there who have October barrels to run. On the low-end, deals were heard at around $303-$304 a tonne."