Citi: It is expected that the price of Brent crude oil will be around $70-80 per barrel in the near future.

Gate News bot news, on Monday, Citibank analysts stated in a report that with the ongoing conflict in the Middle East, they expect Brent crude oil to trade around the current level of $70-80 per barrel in the near term. However, the bank still maintains a long-term oil price forecast of $60-65 per barrel.

They stated: "At this stage, the rise in oil prices has very limited or even no impact on oil production and exports, so the increase in oil prices mainly reflects a rise in risk premiums to address potential production and export disruptions."

Source: Jinshi

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