Analysts from Citi predict a significant drop in Brent crude prices to $60 a barrel by year-end, banking on the U.S.-Iran truce to hold.
Citi analysts said that the memorandum of understanding (MOU) inked between the U.S. and Iran in mid-June will endure, despite potential “temporary flare-ups.” The analysts attribute this to the absence of incentives for either party to violate the agreement and the “genuine conflict fatigue” displayed by both nations, reported the Financial Times on Friday.
