Citi says oil may slump to US$60 as Hormuz shock fades
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Citi says oil may slump to US$60 as Hormuz shock fades
(July 3): Brent oil could extend declines to US$60 a barrel by year-end as disruptions in the Strait of Hormuz ease, according to Citigroup Inc, adding to a chorus of bearish outlooks for the global crude market. “Fundamentals are rapidly reasserting themselves,” Citigroup Inc analysts including Fr»»»
Oil could drop to US$60 by year-end as Hormuz shock fades way: Citi analysts
NEW YORK - Brent crude could extend declines to US$60 a barrel by year-end as disruptions in the Strait of Hormuz ease, according to Citigroup, adding to a chorus of bearish outlooks for the global crude market. “Fundamentals are rapidly reasserting themselves as Hormuz disruptions fade,” Citigroup»»»
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