Citigroup rings the alarm on bearish outlook: fundamentals are returning, Brent crude may dip below $60 by the end of the year.

According to the Zhtng Cijng APP, Citigroup indicated that with the easing of disruptions in the Hormuz Strait, the drop in Brent crude oil prices may further expand to $60 per barrel by the end of the year. This has led to a further expansion of the bearish outlook in the global oil market.