Citi Raises 2026 Year-to-Date Brent Crude Price Forecast

BlockBeats News, April 27th. Citigroup raised its forecast for the average price of Brent crude oil for the remaining time in 2026 and stated that if oil transportation in the Strait of Hormuz continues to be disrupted until the end of June, prices could rise to $150 per barrel. The bank has raised its baseline scenario price forecast for Brent crude oil in the second, third, and fourth quarters of 2026 to $110, $95, and $80 per barrel, respectively. (FX168)