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 Oil Reaches Lowest Level Since March But Analysts Insist They Will Soon "Grind Higher" Oil Reaches Lowest Level Since March But Analysts Insist They Will Soon "Grind Higher" by Ship & Bunker News Team Wednesday June 17, 2026 Tweet Follow @shipandbunker Hari warns that "potential hiccups" between the U.S. and Iran have been overlooked: File Image/Pixabay “ Oil's price plunge "feels over like an overreaction to me" John Jeffrey, CEO, Saturn Oil & Gas With hopes rising for a return to stability in the energy markets due to the impending peace deal between the U.S . and Iran , oil on Wednesday continued to drop: as of 0800 GMT Brent for August delivery dipped  nearly 1 percent to $78.24 per barrel, the lowest price since March 3. Tamas Varga , an analyst at PVM Oil Associates , noted that “Over the last four trading sessions, Brent has fallen by $17 , a discernible vote of confidence that the worst, at least as far as supply disruptions are concerned, is behind us.” However, an earlier comment made by Vandana Hari , founder of Vanda Insights , who said   a lack of detail on what has been agreed was "likely to inject unease and uncertainty into the market" seemed to be the case with regards to sentiment among oil analysts this week. Hari added that while the weekend’s announcement of the U.S. and Iran’s memorandum of understanding (MOU) has brought relief, the “hardest part, on delivering the pledges and promises, is yet to come…Crude’s slide is entirely sentiment-driven,” and she went on to stress that “potential hiccups from logistics to renewed geopolitical tensions are not being adequately factored in.” John Jeffre