Citi raises Brent crude forecast to $80 per barrel
Citi has increased its third-quarter Brent crude forecast to $80 per barrel from $75 due to the ongoing U.S.-Iran war.
The bank still expects the conflict to be resolved, but the prolonged war has 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