NEW YORK, April 9. /TASS/. Oil prices will continue to stay at $90-95 per barrel globally in the near time because this threshold has become a new comfortable level for the oil market, CEO of Navigator Principal Investors Kyle Shostak told TASS.
"Since the positive outcome at this stage of the negotiating 'experiment' appears absolutely questionable, I do not share the market euphoria, considering that the United States and the immediate Iranian neighbors in the Persian Gulf will never and in no conditions agree to the controlling role of Iran in the Hormuz Strait," Shostak said. "Accordingly, I assume that shortly, during the 'experiment,' oil prices will continue fluctuating in the area of $90-95 per barrel, which is still $25 above its pre-conflict level. We see this price threshold has become a new 'comfortable' level during the conflict period in absence of escalation signs. I do not anticipate any assumptions for the price dip to the level at the start of this year in the foreseeable future," the chief executive noted.
The ceasefire for a fortnight should be viewed as a "short-term, tactical pause, during which the parties will catch a break but will hardly agree for longer prospects in view of the critical mutual distrust and mutual requirements that cannot be performed beforehand, including as regards sanctions’ lifting for trading in Iranian oil," he added.