An uptick in demand for bunkers in the Russian Baltic port of St Petersburg has put pressure on supply and lent support to pricing, according to bunker sources based at the port.
After a below-average month in September, the market is returning to a level of demand it would usually expect.
"Demand is big these days, in all ports both in the Baltic and Black sea," a St Petersburg-based trader said.
But the increase in prices has put marine fuel supply in the port under pressure.
"There isn't quite the supply to meet the demand," another St Petersburg-based bunker supplier said.
Another supplier is expecting replenishment by the middle of next week.
Other factors supporting the firm market were rising crude values on the back of a proposed OPEC production freeze.
The key 380 CST fuel grade in the Russian port added to gains made earlier in the week, moving up $6 Thursday to be assessed by S&P Global Platts at $195/mt.
