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Citi says oil could briefly touch $100/bbl, but even $90 is not sustainable

A note from Citigroup commodity analysts via CNBC (gated). Analysts at the bank say Oil prices may head toward $100 "for a short while", citing output cuts and geopolitical tensions. But that level is not sustainable and the price is likely to drop into the end of the year:"The Saudi appetite to withhold oil from market, supported by Russia maintaining a certain level of export constraint, points to higher prices in the short term, all else equal, but $90 prices look unsustainable given faster s... Read More

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Citi

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Could

Briefly

Touch

100 Bbl

Even

Sustainable

100 bbl

Forex

Posted: Sep 18 2023, 20:43

Author Name: forexlive

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