Prices for 380-centistoke (cst) bunker fuel were pegged at $316-$318 a tonne, up $8 from the previous day, with the bunker premium - the differential between bunker prices and fuel oil cargo values - inching up 75 cents to $7.88.
"The bunker premium seems to be holding at around $7-$8 a tonne but more and more players are selling at lower levels. Some deals were heard at around $314-$315," a Singapore-based trader said.
"I wouldn't be surprised if the bunker premiums of $5-$6 a tonne become the norm by the end of the week. I was holding offers at $316 but most buyers didn't even give me a sniff."
Premiums are still relatively high compared to average levels, with typical bunker premiums at around $2-$4 a tonne.
In the regional market, prices fell across the board from week-ago levels but Hong Kong premiums remained firm at around $40-a-tonne levels due to supply shortage.
Traders said ExxonMobil, one of the three main suppliers into the territory, had deferred the arrival of an 80,000-tonne parcel.