{
  "id": 16083655,
  "title": "Citi’s $60 Oil Call Meets $112 Brent",
  "url": "https://urgent.news/2026/10/22/citis-60-oil-call-meets-112-brent",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-22T17:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Citis-60-Oil-Call-Meets-112-Brent.html"
  },
  "original_language": "en",
  "account": "Citi maintained a more optimistic outlook on oil prices than previously anticipated, despite the increasing demand for Middle Eastern crude exports. The bank now predicts Brent crude prices could reach $112 by year-end, up from its previous estimate of $60-$65. This upward revision comes as Gulf crude exports have rebounded, with nearly 1 million barrels per day being transferred in September, accounting for about 7.5% of regional exports. However, the bank warns that the recovered exports are not necessarily efficient, as freight rates for very large crude carriers traveling from the Gulf to China have soared to $250 per metric ton, or roughly $35 per barrel, which is over 20 times the average of the past decade.",
  "summary": "Citi sees more upside risk for oil prices despite recovering Middle Eastern crude exports, a considerably less bearish assessment from the bank that predicted $60-to-$65 Brent by year-end just three months ago. Brent December futures traded at $111.70 on Thursday, up $2.88, or 2.65%, after touching $112.68 earlier in the session. The problem, Citi says, is that getting crude out of the Gulf and…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}