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<Research>Citi Raises 3-Mth Brent Oil Price Forecast to US$70/bbl
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When Brent oil prices were around US$60-61/ bbl last week, Citi analyzed that risks related to Russia/ Ukraine and Iran may support a short-term surge in oil prices, according to a Citi report. The broker lately believed this wave of oil price surge is likely to break through the original forecast range of US$55-65/ bbl in the coming days. Citi raised its 0 to 3-month target price for Brent crude from the current spot price of approximately US$65/ bbl to US$70/ bbl. The key drivers include heightened supply disruption risks and the potential further increase in geopolitical risk premiums related to Iran and Russia/ Ukraine. AASTOCKS Financial News Website: www.aastocks.com |
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