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Citi sees brent crude sliding to $60/bbl as supply fears ease

Geopolitical tensions easing around the Strait of Hormuz are expected to drive Brent crude prices down to $60 a barrel by year-end, according to Citi. Global energy markets are normalizing, with shipping resuming and Gulf producers increasing output. Despite this, Chinese buyers remain absent, and inventories are lower than anticipated, suggesting a potentially uneven recovery. Other banks share this outlook, anticipating a return to market surplus.

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Economic TimesLean R·2h ago
Citi sees brent crude sliding to $60/bbl as supply fears ease
Geopolitical tensions easing around the Strait of Hormuz are expected to drive Brent crude prices down to $60 a barrel by year-end, according to Citi. Global energy markets are normalizing, with shipping resuming and Gulf producers increasing output. Despite this, Chinese buyers remain absent, and inventories are lower than anticipated, suggesting a potentially uneven recovery. Other banks share this outlook, anticipating a return to market surplus.
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Citi sees brent crude sliding to $60/bbl as supply fears ease

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