CITIGROUP says Brent crude could slide to $60/bbl by year-end as disruptions in
the Strait of Hormuz abate. Analyst Francesco Martoccia notes fundamentals are
rapidly normalizing: shipping flows are restoring, the spot crude market has
weakened sharply and inventory draws have been far smaller than expected. The
bank warns of initial volatility as shipping routes normalize, insurance markets
reprice and residual logistics bottlenecks clear, but a return to orderly
navigation and rising traffic suggests commercial operators increasingly view
the risk is manageable.