Citi Sees Potential for $120 Oil Amid Middle East Supply Disruptions

Tuesday, 15 October 2024, 22:40

Citi sees potential for $120 oil if Middle East supplies are disrupted, emphasizing the geopolitical tensions impacting crude prices. Recent developments indicate a drop in crude oil prices as Israel reassures that it will not target Iranian oil assets, raising fears of weaker demand in China. This report analyzes the implications of these factors on the global oil market.
Seekingalpha
Citi Sees Potential for $120 Oil Amid Middle East Supply Disruptions

Citi's Projection of $120 Oil Prices

Citi sees potential for $120 oil amid increasing geopolitical tensions in the Middle East. As regional conflicts escalate, the stability of oil supplies comes into question.

Impact of Israel's Stance on Iranian Oil

Despite Citi's bullish forecast, crude oil prices have recently fallen following statements from Israel not targeting Iranian oil assets. This announcement aims to ease concerns over immediate supply disruptions in the region.

  • Citi's Concerns: Potential disruptions can lead to significant price volatility.
  • Demand Challenges: Weak demand in China continues to be a worrying factor.

Global Market Reactions

Market participants are closely watching developments in the Middle East as any disruption can affect oil supply chains and international pricing strategies.

  1. Monitor geopolitical news.
  2. Assess global demand for oil, particularly from China.
  3. Prepare for potential market volatility.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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