The expert spoke about oil price forecasts and the influence of geopolitics.

Oil prices remain close to the lowest levels in two months, despite the increase in quotations. Evgeny Shatov, a partner at Capital Lab, told Izvestia about this on August 12.

According to the expert, the geopolitical situation is currently having a significant impact on oil prices. One of the factors that eased market concerns was the extension of the US tariff truce with China for three months. US President Donald Trump signed a decree extending the truce until November 10, postponing the increase in duties, which reduced investor fears about the consequences of the trade war, including a possible decline in oil demand.

However, despite this news, prices remain low, and are currently at levels close to the lowest in two months. There is concern in the market about a possible oil surplus, which also puts pressure on quotes.

"The biggest influence on oil prices is now exerted by geopolitics. Traders expect a meeting between Trump and [Russian President Vladimir] Putin Putin's meeting, which will take place at the end of this week, to see signs of easing sanctions against the largest oil producer," Shatov said.

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Russian oil supplies have decreased by 3% over the past four weeks, but average volumes remain within the annual range. At the same time, the threat of new duties has not yet affected oil flows, although Indian refineries are already looking for alternative sources of supply, including the regions of the Middle East, Africa, South Asia and Latin America.

The price of oil has fallen by more than 10% this year, due to traders' concerns about a possible oversupply in the market at the end of the year, after OPEC+ canceled supply cuts despite signs of slowing economic growth.

"This week, the traditional EIA+IEA+OPEC market balance reports will also be published, which will help to create a more complete picture of the supply and demand balance in the market. Oil market volatility is likely to continue in the next few months. The range of fluctuations in Brent crude oil prices may be in the range of 64-68 dollars per barrel," concluded Shatov.

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Against the background of the news about the meeting between Putin and Trump in Alaska, the Russian stock market showed positive dynamics. This was announced by Dmitry Vishnevsky, an analyst at Cifra Broker. According to him, the Moscow Exchange index rose from 2,730 to 2,915 points in the period from August 4 to August 8. The increase was about 7%.

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