Citi raises its base case average Brent price forecasts to USD 110/bbl for Q2, USD 95/bbl for Q3, USD 80/bbl for Q4
Citi's upward revision of Brent price forecasts indicates a strong bullish sentiment for oil, reflecting anticipated supply disruptions.
[CALENDAR ADDITION] US President Trump is to meet with UK King Charles at 16:15EDT / 21:15BST
[MARKET ANALYSIS] Asia-Pac equities broadly in the green, boosted by a new Iranian proposal; European equity futures point to a positive open
Citi raises its base case average Brent price forecasts to USD 110/bbl for Q2, USD 95/bbl for Q3, USD 80/bbl for Q4
Fitch says Japan continues to show appetite for offshore yields, including exposure to US private credit
Goldman Sachs raises its Brent forecast to USD 100/bbl this quarter and USD 90/bbl in Q4, due to prolonged disruption in the Strait of Hormuz and extreme inventory draws
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- Flows could easily remain disrupted through the end of June, which could see Brent reach USD 150/bbl.
If flows remain constrained, the possibility of Brent hitting USD 150/bbl adds significant inflationary pressures and could impact currency valuations, especially for commodity-linked currencies.
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