Citi analysts expect near-term geopolitical risk to keep crude prices supported as U.S. diplomatic pressure around Russia and Iran continues, but they see potential peace agreements later this year as a catalyst for lower prices. The bank highlighted that Oil – Brent Crude has climbed from about $60 to close to $70 per barrel over the past month, suggesting risk premiums remain embedded in the futures curve.
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Over the last month, Oil – US Crude has advanced roughly 6.8%, while Brent is up about 7.1%, reflecting both geopolitical tensions and resilient demand expectations. On a 1-day basis, technical models on TipRanks show US Crude at a Strong Buy signal and Brent at a Strong Buy, indicating short-term momentum remains bullish even as Citi flags downside risks from any de-escalation in global conflicts.
Investors can explore more updates, prices, and analysis across global markets at Commodities.