The expert assessed the volatility of the oil market amid the conflict in the Middle East

The unstable news agenda around the Middle East keeps oil prices in a wide range. During the week, a barrel of Brent may fluctuate between $ 90-115, while increasing geopolitical tensions contribute to the growth of quotations. Spartak Sobolev, head of the Alfa-Forex Investment Strategy Research Department, told Izvestia about this on April 13.

"The lack of progress in negotiations between the United States and Iran is keeping a barrel of Brent in the range of $90-115 this week, the risks of military escalation are pushing quotes to the upper limit," the expert explained.

At the same time, the current situation creates additional advantages for the Russian economy. As Sobolev explained, maintaining world oil prices above the level of $59 per barrel budgeted for the Urals brand contributes to an increase in budget revenues.

The quotas are as follows: an increase in OPEC+ production will not stop the rise in oil prices

Why did the cartel decide to increase the limit by only 206 thousand barrels per day

Kirill Dmitriev, the head of the Russian Direct Investment Fund (RDIF), announced on April 12 that oil prices could reach at least $150 per barrel as early as April 13. According to him, the longer the Strait of Hormuz remains closed, the higher oil and gas prices will be, and the energy crisis in the European Union and the United Kingdom will worsen. The recovery period, in turn, will be prolonged.

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