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Bunker prices continued to drop in the majority of Asian ports today, despite the rise in crude oil prices, which has seen WTI crude for December delivery climb as high as $67.60 per barrel, a rise of almost $5 compared to yesterday's settlement price of $62.73 per barrel.

In Singapore, world's largest bunker port by volume, the price of 380-centistoke (cst) fell by $6.50 to $288.50 per tonne according to Bunker Index price data. Having broken through the $300 barrier yesterday, bunker suppliers were reportedly offering between $287 and $291 per tonne to customers today.

Marine fuel prices in Singapore have decreased dramatically in the space of just one month, mirroring the fall in crude prices. Between September 29th and October 29th, the price of 380-cst has plummeted $313.50 from $602 per tonne to today's price of $288.50 per tonne, a drop of 52 percent.

In Busan, South Korea's leading bunker port with sales of approximately 8 million tonnes per annum, the price of 380-cst fell for the sixth day in a row to $360 per tonne, according to Bunker Index price data. Today's price was $12 lower than levels quoted yesterday and $250 lower than the $380-cst price on September 29th.

180-cst levels in Busan decreased by $11 today from $391 to $380 per tonne. Only a month ago, suppliers were quoting $645 per tonne to customers, thus representing a 41 percent drop in price over this period.

Hong Kong was also bearish today with 380-cst bunker prices being quoted at an average of $308 per tonne, $8 lower than yesterday. The price of 180-cst dropped to $322 per tonne, $9 below yesterday's price of $331 per tonne.

380-cst prices in Hong Kong have plunged $282 since September 29th, whilst 180-cst levels have dropped by $274, which represents a decrease of 47 percent and 45 percent for each bunker grade respectively.

In other Asian ports today, 380-cst at Kaohsiung was being quoted $20 lower than yesterday at $324 per tonne, with 180-cst prices also dropping by the same amount to $333 per tonne.

In Port Klang, 380-cst prices dropped below the $300 mark to $296 per tonne, with 180-cst falling $7 to $308 per tonne.

With crude prices set to continue to remain firm in the international oil markets today, bunker buyers are likely to see a rise in marine fuel prices in Asia tomorrow as a consequence.