Citigroup Raises Brent Crude Forecast Amid Intensifying Iran Conflict

Citigroup has increased its quarterly forecast for Brent crude, projecting that the oil benchmark could reach between $80 and $100 in the short term. According to NS3.AI, this adjustment is attributed to the escalating conflict in Iran, which is contributing to market volatility and uncertainty. The ongoing tensions in the region are expected to impact oil prices significantly, as geopolitical factors play a crucial role in shaping market dynamics.