The expert predicted that oil prices would remain at $80-90 even after the opening of Hormuz

The high level of oil demand, even after Iran opens the Strait of Hormuz, will keep prices at $80-90 per barrel for a long time. Igor Yushkov, an expert at the Financial University under the Government of the Russian Federation, told Izvestia on April 8.

"The very fact of the opening of the Strait of Hormuz pushes the stock price down, it has already gone below $100 per barrel. But from the point of view of supply and demand, it is unlikely to return to the January-February figures ($60-65 per barrel), because the world lived without the Strait of Hormuz due to the fact that it extracted oil from strategic reserves and consumed it. Now it will be necessary to buy oil both for current consumption and to replenish those reserves," Yushkov explained.

In addition, according to him, it is not known how the future situation will develop against the background of negotiations between Iran and the United States.

"We have seen that the United States launched military operations against Iran twice during the negotiations. <...> Therefore, it is probably not worth rushing to forecasts here," the expert said.

He also said that during the closure of the Strait of Hormuz, the global economy has lost hundreds of billions of dollars.

"Countries could buy fuel cheaper if there was no closure of the strait. Prices have almost doubled. In addition, due to the conflict and threats of military attack, the flight system has changed. There were huge flows of planes through the Middle East, and it was convenient to fly from Europe to Asia. The lengthening of routes is also a detriment to the economy," Yushkov said.

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On April 7, US President Donald Trump announced that he had agreed to suspend strikes on Iran for another two weeks. He explained that the condition for this was the complete unblocking of the Strait of Hormuz. The head of the White House said that the United States had received a 10-point proposal from Iran to resolve the conflict. Washington is ready to continue working on its basis.

Spartak Sobolev, Head of Alfa-Forex's Investment Strategy Research department, said on April 6 that the oil market remains uncertain and is awaiting signals for a diplomatic settlement of the situation around Iran. According to the expert, if signs of de-escalation appear, oil prices may drop below $100 per barrel.

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