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Commodities

Citi Lifts Brent Outlook but Still Sees Oil Falling in 2027

Oilprice.com · 1h ago · 🇺🇸 United States

Citi Lifts Brent Outlook but Still Sees Oil Falling in 2027

Citi has raised its third-quarter Brent crude forecast to $80 per barrel from $75 as the U.S.-Iran war drags on and repeated attempts at a deal fail to restore normal oil flows through the Strait of Hormuz. The bank still expects the conflict to be resolved, but the five-month war has lasted longer than Citi anticipated and kept more geopolitical risk in crude prices. Citi left its fourth-quarter Brent forecast unchanged at $70 per barrel and still sees the benchmark averaging $65 in 2027. Brent futures were trading at $83.11 per barrel on Friday…

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