Citigroup: If oil supply disruption reaches 3 million barrels per day, oil prices will rise to $90.

Citibank analysts stated on Thursday that they expect Brent crude oil prices to rise by about 15% to 20% if the conflict between Iran and Israel escalates and leads to a disruption in Iran's oil exports of 1.1 million barrels per day. Citibank said in a report, "This means that Brent crude oil prices should be between $75 and $78 per barrel." In May, oil prices have been hovering around $65 per barrel. Citibank also mentioned that if there is a disruption of around 3 million barrels per day and it continues for several months, oil prices could rise to $90 per barrel. Additionally, in a report, JPMorgan Chase stated that in the most extreme scenario of a larger regional conflict, such as the closure of the Strait of Hormuz, oil prices could soar to $120-130 per barrel. Iran is the third-largest oil-producing country in OPEC, with a crude oil production of approximately 3.3 million barrels per day.