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<Research> Citi Raises 2Q26-4Q26 Oil Price Forecasts
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Citi stated that early last week, it mentioned that if the second round of talks between the US and Iran were to fail or not materialize, the bank would be prepared to shift to a more bullish oil price forecast. Citi said it has postponed its base-case forecast for the restart of supply disruptions (SoH) to end-May (previously mid-to-late April). It reiterated its 03 month short-term target price for Brent crude at USD120 per barrel (about 13% upside). It also raised its base-case average price forecasts for 2Q26/3Q26/4Q26 to USD110, USD95 and USD80 per barrel, respectively (previously USD95, USD80 and USD75), assigning an indicative probability of 50% to this scenario. The bank recommends maintaining near-term crude oil exposure, both as a directional view and as a hedgeagainst the (Iranian) regimes utility function of pursuing deterrence, oil revenue and retaliation, and its commitment to red-line strategies at least through end-May. (ad/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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