As the expert noted, next week the cost of Brent crude oil is likely to "continue trading in the range of $ 76-80 per barrel."
In his opinion, to overcome the psychological level of $ 80 per barrel, a "powerful driver" is needed.
"Next week, such possible drivers may not be enough, on Friday data on the labor market in the US will be released, they traditionally have a strong impact on the value of the dollar and, as a result, on commodity quotes. From Monday to Wednesday next week, china will host the Qingming festival, trading on the stock exchanges will be closed, and the weekend will reduce energy consumption, which may put additional pressure on their value in world markets, "Chernov said.
He also recalled that on Wednesday, April 5, the United States will publish weekly crude oil reserves from the Ministry of Energy.
"Analysts from Wall Street predict an increase in reserves by 0.092 million barrels, after their decline by 7.489 million barrels a week earlier. The growth of reserves will also put pressure on the cost of oil, but most likely only in the short term. According to our forecasts, overcoming the level of $ 80 per barrel of Brent next week will be unlikely in the absence of unforeseen circumstances, so we see a greater probability of trading in the range of $ 76-80 per barrel of Brent, "the analyst concluded.
Earlier it became known that the Chief Executive Officer of Rosneft Igor Sechin and the head of Indian Oil Corporation Ltd. Shrikant Madhav Vaidya signed an agreement to increase fuel supplies to India.