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<Research>Citi Estimates Brent Oil at USD80-90/ bbl for at Least a Week, Ebb back in 2H26
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Brent crude oil prices will range between USD80 and USD90/ bbl for at least the next week due to ongoing warfare among the US, Israel and Iran, which have heightened regional energy infrastructure risks, along with minor disruptions in the Hormuz Strait transportation and Iranian exports, as Citi, in its research report, made a assumptions under a base case. The broker predicted changes in Iran's leadership or sufficient regime changes to cease the war within 1-2 weeks. It is also possible that the US, upon seeing leadership changes, may decide to ease tensions and simultaneously thwart Iran's missile and nuclear programs. Citi estimated that if the situation de-fuses, oil prices will fall to around USD70/ bbl, but there remains a risk premium before they adjust to USD62/ bbl in 2H26. Internal conflicts in Iran or regional conflicts could also keep oil prices elevated for a longer period, although this is not the broker's base case. AASTOCKS Financial News Website: www.aastocks.com |
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