Crude oil prices may fall to $60 by year-end
after close1 source ↓written by the desknot a recommendation
- by year-end
- $60 a barrel
Citigroup Inc forecasts that Brent oil could decline to $60 a barrel by year-end as disruptions in the Strait of Hormuz subside. Analysts noted that shipping flows are normalizing and inventories have decreased less than anticipated, contributing to a bearish outlook for the crude market. The resumption of flows is expected to increase near-term supplies, leading to further price declines.
Not investment advice. For informational purposes only.