Citigroup has lowered its Brent crude oil price forecast for the fourth quarter from $74 per barrel to $70 per barrel, as the recent Israeli attack on Iran avoided oil facilities and caused confusion in the crude oil futures market. Citigroup analysts said, ‘Recent military actions by Israel are unlikely to be seen by the market as causing an escalation of conflict that would affect oil supplies. Therefore, we expect the geopolitical risk premium in the oil market to be lower than our previous expectations.’ Citigroup has increased the likelihood of its base expectations from 60% to 70%, and lowered the possibility of Brent crude oil prices reaching $120 to 10%, as reaching a high of $120 requires a significant event or situation that triggers oil supply issues.
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· 2024-10-28 13:45
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Debido a la prima de riesgo Soltar, Citigroup ha reducido las estimaciones del precio del petróleo Brent para el cuarto trimestre
Citigroup has lowered its Brent crude oil price forecast for the fourth quarter from $74 per barrel to $70 per barrel, as the recent Israeli attack on Iran avoided oil facilities and caused confusion in the crude oil futures market. Citigroup analysts said, ‘Recent military actions by Israel are unlikely to be seen by the market as causing an escalation of conflict that would affect oil supplies. Therefore, we expect the geopolitical risk premium in the oil market to be lower than our previous expectations.’ Citigroup has increased the likelihood of its base expectations from 60% to 70%, and lowered the possibility of Brent crude oil prices reaching $120 to 10%, as reaching a high of $120 requires a significant event or situation that triggers oil supply issues.