09:00 - 8.08.2026

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August 8, Fineko/abc.az. Citi raised its third-quarter average Brent crude forecast to $80 per barrel from $75/bbl previously, citing prolonged negotiation processes regarding the U.S.-Iran conflict.

Despite the revision, the bank maintained its average Brent forecasts for the fourth quarter of 2026 and the full year 2027 at $70/bbl and $65/bbl, respectively. Oil prices climbed amid concerns over ongoing negotiations to end the five-month conflict, with Brent crude futures rising 1.4% to $81.79 a barrel and U.S. West Texas Intermediate (WTI) gaining 1.33% to $78.32. Earlier this week, Goldman Sachs projected Brent to fluctuate between $80 and $90 a barrel until a formal agreement is reached or military escalations intensify.