Cash premium on the 380-cst fuel oil rose to a more than two-week high on Friday, lifted by a marginal increase in demand for marine fuel amid lesser cargoes arriving from the West.

The 380-cst premium stood at $1.50 a tonne to Singapore spot quotes on Friday, up 50 cents a tonne from the day before, Reuters data showed.

“Tradable 380-cst may be slightly tight in early August due to more requirements for the more viscous fuel grades,” said a Singapore-based trader.

The premium of the 380-cst marine fuel lifted from terminals, also known as ex-wharf, rose by 46 cents a tonne to $3.21 a tonne to 380-cst cargo prices, Reuters data showed.

While the 380-cst fuel grade is most widely used to run vessels, the heavier and more viscous 500-cst is a cheaper alternative and may be run on newer ships, traders said.

About 2.7 million tonnes of fuel oil are expected to make a landfall in August in Asia, 10 percent lower than this month’s volumes.

Other traders were sceptical of any firm outlook in the short-term, as supplies were still ample in the hands of a collected few, without specifying who these market players were.

“If we are talking about RMG, there is still oil around, but could be in the hands of several players,” said a second Singapore-based trader.

RMG is the common industry term which refers to the 380-cst fuel grade.

*SINGAPORE CASH DEALS: Four trades.

BP bought from Glencore 20,000 tonnes of 180-cst for Aug. 9-13 at a discount of $1.50 a tonne to Singapore spot quotes over balance July.

Hin Leong bought from Glencore 20,000 tonnes of 180-cst for Aug. 2-6 at a discount of $2 a tonne to Singapore spot quotes of balance July.

Mercuria sold to BP 20,000 tonnes of 180-cst for Aug. 9-13 at a premium of $5 a tonne to Singapore spot quotes for 380-cst.

BP bought from Glencore 20,000 tonnes of 180-cst for Aug. 9-13 at a discount of $1.50 a tonne to spot Singapore quotes over balance July.