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Singapore bunker prices eased on Thursday, tracking lower spot fuel oil cargo levels, on moderate demand, traders said.

Dealers said 380-centistoke bunker fuel oil was pegged at $187-$190 a tonne, down $2 from Wednesday, while 180-cst prices were pegged $1 lower at $194-$196, traders said.

Demand was moderate as shipowners appeared to be in two minds as to whether they should fix deals as some believe that crude levels could fall further.

"The supply tightness for prompt delivery dates of up till August 31 is very bad and very few sellers can supply on those dates. Most of the majors are already out till September 1 at the earliest," a Singapore-based trader said.

No deals were heard for enquiries on August 31 or earlier while enquiries after that date drew offers of $188-$189."

An independent sold one lot of 380-cst totalling 1,100 tonnes, for September 2 delivery, at $188 a tonne.

Copyright Reuters, 2004


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