Citi lowers its This autumn 2024 Brent forecast to US$70/bbl (from $74/bbl)

Data comes through Reuters, updating the Citi outlook for oil.

• Lowers
  Zero-Three month Brent oil goal worth to $70/bbl (from $74/bbl)

• Lowers
  This autumn 2024 Brent forecast to $70/bbl (from $74/bbl)

• Latest
  Israel navy motion is unlikely to be seen by the market as
  resulting in an escalation that impacts oil provide

• We
  count on a decrease geopolitical threat premium in our base case, than we
  beforehand assumed

Oil gapped decrease in Sunday night (US time) futures commerce:

• Oil replace – Brent (futures) circa $72

• Israel strikes on Iran look designed to reduce the possibility of retaliation

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



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