The deputy assessed the prospects of the oil market this week

For Brent oil, the working range may be $100-112 per barrel, for WTI — $ 94-103. If the news background around the Strait of Hormuz worsens, Brent is able to rise to $115 in the short term, while with the progress of negotiations and the restoration of shipping, a correction to the region of $95-100 is possible. Alexey Govyrin, a State Duma deputy and member of the Committee on Small and Medium-sized Enterprises (United Russia faction), told Izvestia on April 27.

"The main reason for the high price now is the geopolitical premium. Seasonal fuel demand has receded into the background. Due to restrictions on navigation through Hormuz, production in the Persian Gulf countries suffered, according to April estimates, the drop could reach up to 9.1 million barrels per day," the parliamentarian explained.

In the medium term, the market, according to the MP, may focus on the Brent level of about $115 at the peak of the second quarter, followed by a decline as supplies recover. By the fourth quarter of 2026, the price of Brent may drop to $90 per barrel, and WTI to $83. At the same time, the spread between the grades is expected to remain in the range of $6-8.

Separately, Govyrin stressed the importance of oil prices for the Russian economy. According to him, with the dollar exchange rate at about 75.5 rubles, even an increase in Brent by $5 significantly increases the ruble revenues of exporters and the revenue side of the budget.

The main risks of the current week, in his opinion, are related to the news around the Strait of Hormuz, central bank interest rate signals, as well as the development of the negotiation process between the United States and Iran.

Sales preparation: oil prices may rise to $140 per barrel

The US refusal to extend the license for the sale of raw materials from Russia and Iran will support the high cost of fuel

The Wall Street Journal reported on the same day that oil prices rose by more than 2% amid investment demand and market participants' expectations, despite geopolitical risks. Thus, futures for West Texas Intermediate for May delivery increased by 2.0% to $96.30 per barrel, and futures for Brent rose by 2.1% to $107.58 per barrel.