Citi Raises Q3 Brent Forecast to $80 a Barrel as Iran Standoff Drags Past Five Months
Citi bumped its third-quarter Brent forecast to $80 from $75 on Friday, citing a stalled U.S.-Iran conflict now in its fifth month with no real fix for Strait of Hormuz shipping disruptions. The bank still thinks prices crater to $65 by 2027 once a deal happens, but Wall Street is split hard on timing, and nobody actually knows when Tehran and Washington sign anything.