Citi Predicts Oil Prices Could Drop to $60 as Hormuz Traffic Normalizes
Brent Crude prices could fall to $60 per barrel by the end of the year as global supply chains stabilize and diplomatic shifts between the U.S. and Iran lower geopolitical tensions. Analysts at Citigroup project that normalizing traffic through the Strait of Hormuz, combined with weakened Chinese demand, will create a significant market surplus, according … Read more