Prices for the 180-cst grade were at $282.13 a tonne, up 72.5 cents from Tuesday's close, while the 380-cst grade rose by $2.85 to $275.75 on increased activity levels in the cash market.
Fuel oil's crack spread versus Middle East Dubai crude was steady at a discount of $8.10 a barrel, up 35 cents, as a result of the firmer cargo levels.
Differentials for the 180-cst grade were stable at a discount of $2.50 a tonne, but 380-cst differentials flipped into the positive at a premium of 25 cents, up $1.00.
"The play has started again after more than a week of apathy. Some players are starting to price their early-January arrivals and it's easier for them to move prices now because the market is still quite illiquid," a trader with a Western trading company said.
"But market sentiment is bearish, probably for the whole month, given the very heavy January arrivals. The inflows are so heavy that not all the inflows can be absorbed despite China's seasonal stockpiling."
January is expected to see about 2.8 million tonnes of Western cargoes into Asia, the heaviest volume in 15 months and well above this year's average of 1.7-1.8 million tonnes.
Another 670,000 tonnes have been fixed for February arrival, a volume that is unlikely to rise significantly as the arbitrage window, which was open in November amid heavy Russian exports and a tight Singapore market, has since shut.
The heavy volumes were due to an open East-West arbitrage window in November amid heavy Russian exports and a tight Singapore market.
The arrivals are well spread out throughout the month, with about half of the 2.8 million tonnes arriving in the first-half of the month.
Easing the heaving supplies, Indonesia has bought 33.3 percent more fuel oil for January delivery, compared to December levels, at 800,000 barrels.
In the cash market, Glencore pushed up 380-cst cargo differentials by bidding at parity to Singapore 380-cst quotes for a 20,000-tonne parcel for loading during January 23-27.
This was the first definitive bid in the cash market for more than a week. The swaps market was also more active, with better-defined values in the front two months, than it had been in the past week or two, indicating that pricing interest had returned.