Citigroup forecasts Brent could fall to $60-$65 per-barrel end-2026
Business
Citigroup says Brent crude oil could drop to $60 to $65 per barrel by the end of 2026.
Why? Global supply risks are easing, shipping through the Strait of Hormuz is getting back to normal, and oil markets aren't as tight as before.
The bank's analysts suggest it's not a great time to bet on those summer price spikes anymore.
Hormuz shipping normalizes, Chinese demand falls
With shipping routes in Hormuz running smoothly again, commercial operators feel more confident, even with some minor hiccups.
Demand has taken a hit since Chinese buyers pulled back, and other big banks like Goldman Sachs and Morgan Stanley agree that oversupply might be coming as disruptions fade away.