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 Bunker Buyers Should Consider Hedging if Brent Approaches $75/Bl: GRM Bunker Buyers Should Consider Hedging if Brent Approaches $75/Bl: GRM by Ship & Bunker News Team Monday June 15, 2026 Tweet Follow @shipandbunker Prices have been falling steadily since the middle of May. Image Credit: Ship & Bunker Bunker fuel buyers should consider hedging for their consumption over the next year if the news of a breakthrough in negotiations between the US and Iran delivers a reprieve in prices in the coming days, according to hedging firm GRM . Late on Sunday it was announced that the US and Iran had provisionally agreed to a framework for ending the war between the two countries, with a memorandum of understanding due to be signed on June 19 . The agreement includes a 60-day deadline before which more complex issues including Iran's nuclear ambitions will need to be negotiated. “ Oil prices are unlikely to return to the USD 60-70 level seen before the war ICE Brent crude futures traded at $83.38/bl as of 6:24 AM in London on Monday morning, down from $87.33/bl at Friday 's close, but up from $70.88/bl on February 27 before the start of the war. The market should not expect a return to pre-war prices any time soon, GRM said in a note to clients on Monday. "We argue that Brent could fall to USD 80-82, or even lower, in the very short term," the company said. "We may see an undershoot. "The oil market remains illiquid, and a further fall in Brent is likely when European and US participants enter the market later today. "We also argue that oil prices are unlikely to return to the USD 60-70 level seen before the war." Rebuilding Global Oil