By Steve Christy, Expert Contributor, Integr8 Fuels 16 September 2026 Another surge in bunker prices Bunker prices have surged four times since the start of the US-Iran war, but this time we are at the highest levels since mid-March, just after the war started. At the time of writing, Brent futures were trading in the $107-108/bbl range, with indications that prices could rise further. Prices in our markets can only follow what is happening to Brent. Even though the Singapore VLSFO premium to crude has diminished, we are still paying $100/mt more than we were three weeks ago. This latest price hike comes amid massively increased tensions in the Red Sea region, following drone attacks on the 7 million b/d Saudi East-West crude pipeline and Houthi military advances in the Bab al-Mandab Strait. With the Strait of Hormuz effectively closed, the East-West pipeline had been the major alternative outlet for getting Saudi crude into the international market via the Red Sea. It is now closed. In addition, some Saudi refining assets in the east are operating at low, or even zero, throughputs. It’s all a recipe for sending shock waves through the market and pushing oil prices and bunker prices even higher. Uncertainty continues to drive the price outlook We know price movements are directly linked to the events and psychology surrounding the US-Iran war, and that these are impossible to predict. For a number of months, we have discussed the US midterm elections in early November as a potential backstop to the war, with a peace agreement bringing US gasoline prices down by at least 25% and potentially becoming a vote-winner for the Republicans. However, it looks like President Trump is taking a different approach to attract voters, and an end to the war before November now seems unlikely. President Trump has acknowledged that oil prices are unlikely to fall before the midterms. Just last week, on his way to Dallas for the Republican Midterm Convention, he was quoted as saying,