Citi spells out 3 scenarios for the Strait of Hormuz — and where oil prices would go in each

Citi said global crude inventories are set to fall to their lowest level in eight years by the end of June, even if the conflict ends this week. The outlook implies continued tightness in oil supply-demand balances and supports crude prices, with geopolitical risk remaining a key market driver.

Analysis

Citi said global crude inventories are set to fall to their lowest level in eight years by the end of June, even if the conflict ends this week. The outlook implies continued tightness in oil supply-demand balances and supports crude prices, with geopolitical risk remaining a key market driver.