Citi Forecasts Oil May Slump to $60 as Hormuz Shock Fades
Hyperdash NewsCommoditiesCiti analysts predict Brent crude oil could fall to $60 per barrel by year-end. This forecast is based on the expectation that disruptions in the Strait of Hormuz will ease. A decline to this level would represent a significant drop from current prices.
Citi previously cut its average Brent crude forecasts to $75 and $70 per barrel for the third and fourth quarters of 2026, respectively, citing expectations that the Strait of Hormuz trade flows will resume after the U.S. and Iran approved a memorandum of understanding. The early reaction on Hyperdash: 
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