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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