Citi Sees Oil Prices Falling to $60 if Trump Secures Iran and Russia Deals

Citi Sees Oil Prices Falling to $60 if Trump Secures Iran and Russia Deals

According to Citi analysts, geopolitics will continue to provide support for oil prices in the immediate term, but they may later come under pressure if President Trump’s attempts to clinch a peace deal with Russia and a nuclear deal with Iran succeed.  “It is our base case that both Iran and Russia-Ukraine deals happen by or during the summer of this year, contributing to a decline in prices to $60-62/bbl Brent and lowering diesel and gasoline …

Citi says geopolitics to support oil near term; peace deals seen lowering prices

(BOE Report) – Oil prices could remain supported in the near term as U.S. President Donald Trump ramps up pressure for peace deals involving Russia and Iran, but a resolution later this year may ultimately push crude lower, Citi said on Monday. Brent crude has rallied from around $60 per barrel to near $70 in the past month, partly reflecting tighter enforcement of U.S. sanctions on Russian and Iranian oil, alongside other supply disruptions, the

Citi Says Geopolitics to Support Oil Near Term - Peace Deals Seen Lowering Prices - Energy News, Top Headlines, Commentaries, Features & Events

(Reuters) – Oil prices could remain supported in the near term as U.S. President Donald Trump ramps up pressure for peace deals involving Russia and Iran, but a resolution later this year may ultimately push crude lower, Citi said on Monday. Brent crude has rallied from around $60 per barrel to near $70 in the ...