23 April 2026
From Surplus to Shortage: The New Oil Price Outlook
Market volatility is quieter, but not quiet enough.
Any hope that the Iran war and the hike in oil prices would be short-lived, with only a limited impact on bunker prices, can be forgotten.
First, the good news: front-month Brent crude prices have come down from their peak of close to $120/bbl, and the massive premium paid for bunkers in Asia has disappeared. But the bad news is that we are still paying some $200/mt more for bunkers than two months ago —an increase of around 40%.
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