Macquarie: Even if the situation in the Middle East eases, the bottom for oil prices remains in the range of 85 to 90 dollars

Macquarie's global energy strategist Vikas Dwivedi and his team stated in a report that even if tensions may ease (referring specifically to Trump's statement on Monday), oil prices are expected to bottom out at $85 to $90 per barrel and will soon naturally rebound to the $110 range until the Strait of Hormuz fully resumes navigation.

If the Strait of Hormuz remains closed, Brent crude prices could still rise to $150 per barrel by the end of April, while refined oil prices are expected to be 200% higher than pre-war levels.

The total amount of oil transported through the strait is expected to be 1.5 million barrels per day, far below the normal level of 15 million barrels per day, indicating a daily supply gap of 13.5 million barrels.