Citi Sees Oil Prices Falling to $60 if Trump Secures Iran and Russia Deals

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Citi analysts predict oil prices to fall to $60-62/bbl Brent if President Trump secures deals with Iran and Russia, citing potential decline in geopolitics-driven support for oil prices.

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Market impact analysis based on bearish sentiment with 80% confidence.

Sentiment
Bearish
AI Confidence
80%
Time Horizon
Short Term

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According to Citi analysts, geopolitics will continue to provide support for oil prices in the immediate term, but they may later come under pressure if President Trump’s attempts to clinch a peace deal with Russia and a nuclear deal with Iran succeed. “It is our base case that both Iran and Russia-Ukraine deals happen by or during the summer of this year, contributing to a decline in prices to $60-62/bbl Brent and lowering diesel and gasoline cracks by $5-10 dollars,” the analysts said, as quoted by Reuters. Until that…

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Original article published by OilPrice.com on February 17, 2026.
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