Industry and Energy

Home page

Industry and Energy

Oil prices to remain at $90–95 despite US–Iran ceasefire, analyst says

09 April 2026 09:46 (UTC +04:00)

Global oil prices are expected to remain around 90–95 US dollars in the near term despite the ceasefire announced by the United States and Iran, as this range has become a new comfort level for the oil market, said Kyle Shostak, Director at the US investment company Navigator Principal Investors, TASS reports.

“Considering that the United States, as well as Iran’s closest neighbors in the Persian Gulf, will never under any circumstances agree to Iran playing a controlling role in the Strait of Hormuz, I do not share the market’s euphoria, as it appears entirely unclear whether the ‘experiment’ at this stage of negotiations will end with a positive outcome.

For this reason, I expect that in the near term, during this ‘experiment’ period, the price of oil will continue to fluctuate in the range of 90–95 dollars per barrel, which is 25 dollars higher than the pre-conflict level. We see that during the conflict, this price range has become a new ‘comfort’ level in the absence of signs of escalation. I see no grounds for a return to price levels seen at the beginning of the year in the near future,” Kyle Shostak said.

In his opinion, the two-week ceasefire should be regarded as a short-term, tactical pause; during this period, the parties will have the opportunity to catch their breath, but due to deep mutual distrust and preconditions that are difficult to fulfill, including the issue of lifting sanctions on Iranian oil trade, the likelihood of reaching a long-term agreement remains low.

It is noted that US President Donald Trump announced a two-week mutual ceasefire with Iran on April 7.