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
- Flows could easily remain disrupted through the end of June, which could see Brent reach USD 150/bbl.
Context
Citi's upward revision of Brent price forecasts indicates a strong bullish sentiment for oil, reflecting anticipated supply disruptions. 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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