Singapore bunker fuel prices rise

Singapore bunker prices rose on Thursday, as its differential to fuel oil cargo turned positive for the first time in six sessions on strong demand as panic-stricken buyers flooded the market.
Prices for 380-centistoke (cst) bunker fuel were pegged at $355-$357 a tonne, up $8 from the previous session, while the differential to fuel oil cargoes was at a slender premium of 70 cents, up $2.35. "The buyers are spooked by the spike and are worried that prices could rise further. That's why they are out there by the droves today," a Singapore-based supplier said.