On April 27, Citi raised its forecast for the average price of Brent crude oil for the remainder of 2026 during a local evening update. The bank stated that if oil transportation through the Strait of Hormuz continues to be disrupted until the end of June, prices could rise to $150 per barrel. The bank has adjusted its baseline price forecasts for Brent crude oil in the second, third, and fourth quarters of 2026 to $110, $95, and $80 per barrel, respectively. (Jin Shi)
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Citi Raises Brent Crude Oil Price Forecast for Remainder of 2026
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