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2026-08-07T19:40:41.169Z

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City ups Brent crude forecast for Q3

City ups Brent crude forecast for Q3

Citibank has raised its forecast for the average price of Brent crude oil in the third quarter of 2026 to $80 per barrel, up from $75 previously, due to ongoing negotiations between the United States and Iran and escalating concerns related to them. Its projections for 2026 and 2027 remain at $70 and $65, respectively. Oil prices have risen significantly, with Brent futures increasing by 1.4% to reach $81.79, and West Texas Intermediate futures climbing by 1.33% to $78.32, amid discussions about the possibility of prices staying between $80 and $90 until the nuclear agreement is confirmed or a major military escalation occurs.

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