You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Don't Expect Sharp Bunker-Price Drops if Strait of Hormuz Reopens: Dan-Bunkering Don't Expect Sharp Bunker-Price Drops if Strait of Hormuz Reopens: Dan-Bunkering by Ship & Bunker News Team Friday May 29, 2026 Tweet Follow @shipandbunker A significant premium has emerged for VLSFO prices over Brent since the outbreak of war. Image Credit: Ship & Bunker While the US and Iran appear closer to a deal at least temporarily opening the Strait of Hormuz , the bunker market should not expect a sudden drop in prices to pre-war levels if it works out, according to global trading firm Dan-Bunkering . The market should expect an immediate drop of less than 10% in Brent crude in the event of the Strait of Hormuz reopening, Dan-Bunkering said in its weekly note to clients. "Initially, we will undoubtedly see a significant price decline," the company said. "However, the decline may well be smaller than many expect. "A reasonable estimate could be Brent slightly below 90, as we saw in April when the strait was open for 24 hours. "It is also important to remember that the market is already pricing in a relatively quick reopening." ICE July Brent futures closed at $94.29/bl on Wednesday . A drop to $90/bl from that level would imply a fall of about $32/mt in bunker prices, an unusually large daily move but taking prices nowhere near the lower levels seen before the recent conflict. “ We expect oil prices to be in the USD 80-100 range in the third and fourth quarters A drop nearer ten times that size would be needed to return the bunker market to prices seen in February . Prices are unlikely to drop more sharply because of the level of disrupt