Prices for 380-centistoke (cst) bunker fuel were pegged at $285-$287 a tonne, up $7 from levels seen the previous day, with bunker premiums, the difference between fuel oil cargo values and bunker prices, steady at $3.25 a tonne.
"Suppliers are just simply holding offers at $3-$4 a tonne premiums and not doing anything because there's very little buying interest in the market," a Singapore-based supplier said.
"Everyone is waiting for firmer direction from the crude market next week when players return from their holidays. No one wants to be a hero and get caught short over the long weekend."