Citi analysts predict volatile crude markets as conflicting economic signals drive rapid price fluctuations in the near term.
Citi analysts anticipate significant volatility in oil prices as markets oscillate between demand optimism and recession fears. The bank highlights uncertainty over global economic growth as the primary driver of these swings, with crude likely to experience abrupt shifts in sentiment.
Recent price movements reflect this tension, with Brent crude trading between $80 and $90 per barrel over the past month. Analysts note that mixed economic data from the U.S. and China, the world’s largest oil consumers, have contributed to the instability.
The forecast suggests traders should brace for continued turbulence as macroeconomic indicators remain inconclusive, with no clear directional trend emerging.