Singapore bunker prices were stable on Wednesday, despite marginally lower fuel oil cargo values. Bunker fuel of 380-centistoke (cst) grade was pegged at $192-$194 a tonne, unchanged from the previous trading day, widening the premium to cargo levels by 25 cents to $2.00 a tonne. In the regional bunker markets, prices remained stable.

Tokyo Bay levels are expected to rise later this week as supplies begin tighten because some refiners are cutting runs.

South Korean refiners are also expected to lower prices to boost demand, which has been poor as buyers turned to cheaper ports such as Hong Kong and Taiwan.

Copyright Reuters, 2005