Singapore bunker prices were stronger on Tuesday following an overnight jump in crude oil prices but traders saw limited gains due to weak demand for the shipping fuel.
Traders pegged 380-centistoke (cst) up $161/$163 a tonne, up from $160 on Monday. They said 180-cst material strengthened by $1.00 over Monday to $166/$168.
"We've had small inquiries only. Prices today are crude driven because there is plenty of supply," a trader in Singapore said.
A source with an oil major heard inquiries at 10,000 tonnes, a level he considered relatively low.
Traders quoted gas oil prices up at $290/$295 a tonne, an $8.00 gain on Monday.
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