According to the analyst, the Brent price is currently moving in a narrow range – $82-84 per barrel.
“It has been in an upward trend for more than a month, but now the upward movement has slowed down a little.
The main driver of price growth is the events in the Red Sea, attacks by the Yemeni Houthis on warships of NATO countries,” he explained.
Kalmanovich believes that “until the conflict is resolved, the price of oil will continue to have the potential for further growth.”
“Over the next two weeks, Brent oil may fluctuate in the range of $80-85 per barrel.
If the conflict in the Red Sea ends during this period, oil prices could drop sharply to $77 per barrel.
If it continues, oil may rise to $85 at least; if this level is broken upward, the road to $88 will be open,” he concluded
Earlier, BitRiver financial analyst Vladislav Antonov spoke about the possible dynamics of Brent oil prices in the near future.