Moscow: 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. This range has become a new comfort level for the oil market, as stated by Kyle Shostak, Director at the US investment company Navigator Principal Investors, TASS reports.

According to Azeri-Press News Agency, Kyle Shostak expressed skepticism regarding the market's optimism over the ceasefire. He noted that the United States and Iran's neighbors in the Persian Gulf will not allow Iran to have a controlling role in the Strait of Hormuz. Shostak explained that the current price range of 90-95 dollars per barrel is a result of the ongoing conflict and has become the new 'comfort' level due to the absence of escalation signs.

Shostak further elaborated that the two-week ceasefire should be seen as a temporary, tactical pause. During this period, both parties have the opportunity to reassess, but given the deep mutual distrust and challenging preconditions, such as lifting sanctions on Iranian oil trade, the chances of achieving a long-term agreement are low.

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