Citi holds $75 Brent base case for Q3: US-Iran deal, Hormuz reopening seen

Citi's step-down profile, from $75 in the third quarter to $70 in the fourth and $65 through 2027, frames the recent spike as a temporary risk premium rather than a lasting repricing, consistent with today's quieter tape after this week's flare-up. The bank's read leans on Trump's own sensitivity to equities and bond markets as the mechanism pulling Washing…

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