Singapore bunker or ship fuel prices fell on Monday under downward pressure from lower benchmark crude and oil products cargo prices, but the lower prices boosted trade as ship-owners flooded back into the market.
"The phones are ringing again," said a Singapore-based trader with a Western oil major who put 380-centistoke (cst) bunker fuel oil prices at $188-$189 a tonne, down $3.50 from Friday with crude losses of more than two percent since Thursday.
Marine gas oil prices also slumped with lower crude and slack demand in the cargo market to hear quotes of $320 a tonne, down $6 from Friday.
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