AI Summary

Citi analysts predict a potential decline in oil prices to $60 per barrel by the end of the year. This forecast is based on the expected normalization of traffic through the Strait of Hormuz and a potential deal between the US and Iran. The analysts believe that the incentives for de-escalation will outweigh the alternative, leading to a successful agreement. The recommendation to sell any summer rallies and forecast a price drop to $60-$65 per barrel by the end of the year underscores the analysts' confidence in this prediction.

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