CITIGROUP says Brent crude could slide to $60/bbl by year-end as disruptions in the Strait of Hormuz abate. Analyst Francesco Martoccia notes fundamentals are rapidly normalizing: shipping flows are restoring, the spot crude market has weakened sharply and inventory draws have been far smaller than expected. The bank warns of initial volatility as shipping routes normalize, insurance markets reprice and residual logistics bottlenecks clear, but a return to orderly navigation and rising traffic s

CITIGROUP says Brent crude could slide to $60/bbl by year-end as disruptions in the Strait of Hormuz abate. Analyst Francesco Martoccia notes fundamentals are rapidly normalizing: shipping flows are restoring, the spot crude market has weakened sharply and inventory draws have been far smaller than expected. The bank warns of initial volatility as shipping routes normalize, insurance markets reprice and residual logistics bottlenecks clear, but a return to orderly navigation and rising traffic suggests commercial operators increasingly view the risk as manageable.