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Oil may stay between $60 and $65 by 2027
Citibank expects oil prices to decline to between $60 and $65 per barrel by the first quarter of 2027, as oil flows through the Strait of Hormuz resume following the signing of a memorandum of understanding between the United States and Iran to end their conflict. The prices have fallen to their lowest levels since the war began in February, with key unresolved issues between the two countries persisting, and oil tankers once again crossing the strait normally.
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