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Citibank increases Q3 Brent forecast to $80
Citibank has raised its forecast for Brent crude oil prices in the third quarter of 2026 to an average of $80 per barrel, up from its previous estimate of $75, due to ongoing negotiations between the United States and Iran without reaching a final agreement. Meanwhile, it maintained its price forecast for the fourth quarter of 2026 at $70, and an average of $65 for 2027, considering that a long-term settlement to the regional dispute is likely. Global oil prices rose following US job reports and renewed concerns about negotiations, with Brent reaching $81.79 and West Texas Intermediate rising to $78.32. Goldman Sachs expects Brent prices to remain stable between $80 and $90 until the outcomes of the nuclear deal become clear or regional tensions escalate.
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