Singapore bunker prices rose on Monday, tracking the surge in fuel oil cargo values. Prices for 380-centistoke (cst) bunker fuel were pegged at $269-$271 a tonne, compared with $263-$265 a tonne last Friday. The differential to cargo values were steady at flat to a premium of $3 a tonne.
"We are seeing quite a lot of inquiries because of the record-high prices. It could be panic buying," a trader said.
"The US crude prices have hit the all-time high several times today. It may go higher tomorrow," he said.
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