Singapore bunker prices eased on Monday and its premium to fuel oil cargo values edged lower, as healthy prompt demand from shipowners kept the market from sliding further, traders said.
Prices for 380-centistoke (cst) bunker fuel were pegged at $333-$335 a tonne, down $5 from Friday's Asian close, with the differential to fuel oil lower at a premium of 75 cents, down from 95 cents.
"The shipowners are flooding the market with prompt inquiries, looking to take advantage of the drop in crude prices," said a Singapore based bunker trader with an Asian refiner.