South Korean refiner S-Oil settled premiums for September-delivery 380 CST bunker fuel with traders at $15-16/mt to Mean of Platts Singapore 380 CST high sulfur fuel oil cargo assessments, up from $14/mt for August, a company source said Friday.

The source said the company expects higher prices in September.

September supply from S-Oil will be similar to August, or increase slightly, the source added. The refiner typically sells 160,000-200,000 mt/month. The refiner ships bunker fuel from its 669,000 b/d Onsan refinery in the country's southeast.

South Korea sells about 700,000 mt/month of bunker fuel.