Information comes through Reuters, updating the Citi outlook for oil.
-
Lowers
0-3 month Brent oil goal worth to $70/bbl (from $74/bbl)
- Lowers
This autumn 2024 Brent forecast to $70/bbl (from $74/bbl)
- Current
Israel army 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 attenuate the possibility of retaliation
This text was written by Eamonn Sheridan at www.forexlive.com.
