Citi Says Oil May Slump to $60 as the Hormuz Shock Fades Away

Citigroup projects Brent crude could fall to $60 per barrel by year-end as disruptions in the Strait of Hormuz decline. The bank's forecast aligns with other analysts predicting lower oil prices in coming months. Brent crude has faced upward price pressure from supply concerns tied to the strategic waterway, through which roughly one-third of global seaborne oil passes.

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