finance.yahoo.com

Citi and ANZ lift Brent forecasts on ongoing Middle East supply disruptions

Citigroup logoCitigroup
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ANZ Bank logoANZ Bank
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Citi and ANZ raised Brent crude price forecasts as Middle East supply disruptions continue to weigh on the global oil market. Citi lifted its third-quarter 2026 Brent forecast to $86 a barrel and expects the Strait of Hormuz to reopen in Q4, creating a surplus of 3 million to 4 million barrels per day. ANZ raised its short-term forecast to $95 and expects further demand destruction as inventories fall.

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