BlockBeats news, on March 12, Citi Research raised its Brent oil price forecasts to $75 per barrel for the first quarter, $78 for the second quarter, and $68 for the third quarter, up from previous estimates of $73, $70, and $62, respectively. Citi noted that oil prices may fluctuate between $80 and $100 per barrel in the short term. Analyst Eric Lee stated in the report: "We believe neither the U.S. nor Israel wishes to see the conflict escalate to the next level, as that would likely involve regional energy infrastructure and Iran’s domestic public infrastructure; therefore, our baseline scenario is that tensions will de-escalate shortly after the U.S. and Israel achieve their military objectives." However, he added that the risk of attacks on regional energy infrastructure remains high, "which could trigger an oil shock similar to those in the 1970s." (Jinshi)
Citibank Raises Oil Price Forecast Amid Iran Tensions
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Summary
On March 12, Citibank raised its Brent crude oil price forecasts to $75 for Q1, $78 for Q2, and $68 for Q3, up from previous estimates of $73, $70, and $62, respectively. Analyst Eric Lee stated that a full-scale conflict between the U.S. and Iran is unlikely, but warned that attacks on energy infrastructure remain a high risk. Market observers are monitoring altcoins amid rising geopolitical tensions. The Fear & Greed Index reflects increased uncertainty in both oil and crypto markets.
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