United StatesCitigroup predicts Brent crude oil prices could fall to $60 per barrel by year-end as tensions in the Strait of Hormuz subside, marking another bearish forecast for the global oil market. The bank’s analysts, including Francesco Martoccia, noted that shipping activity is returning to normal levels, while Chinese demand remains low and physical crude markets have experienced sharp weakness. They also pointed out that inventory draws have been lower than anticipated, contributing to the downward pressure on prices.
Bias read (Center): The article presents a technical economic analysis based on market fundamentals and expert forecasts without overtly favoring any political ideology. It reports on the financial implications of geopolitical events without taking a partisan stance, maintaining a balanced tone.
