Brent Crude Could Fall to $60 per Barrel by Year-End as Strait of Hormuz Crisis Eases, Citigroup Says

According to Citigroup, on July 3, Brent crude oil prices could fall to $60 per barrel by year-end as disruptions in the Strait of Hormuz gradually ease, the bank's report stated. Analyst Francesco Martoccia noted that "fundamentals are rapidly recovering as shipping flows normalize and spot crude markets weaken significantly, with inventory declines falling short of expectations."
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