Citibank analyst Francesco Martoccia and others said in a report on Monday that the expected price of Brent crude oil in the bullish scenario for this quarter and next will be raised from $80 to $120 per barrel. The probability that a bullish expected scenario will come true increased from 10% to 20%. “Due to weak underlying oil market fundamentals, oil price forecasts for the fourth quarter and the first quarter of next year will remain at $74 and $65 per barrel, respectively. The probability of achieving this scenario is 60%; under a bearish scenario, the oil price expectations for the fourth quarter and the first quarter of next year are $60 and $55, respectively. Note: Prior to Citi's report, there were reports that Israel might limit retaliation against Iran to military targets.

Citibank analyst Francesco Martoccia and others said in a report on Monday that the expected price of Brent crude oil in the bullish scenario for this quarter and next will be raised from $80 to $120 per barrel. The probability that a bullish expected scenario will come true increased from 10% to 20%. “Due to weak underlying oil market fundamentals, oil price forecasts for the fourth quarter and the first quarter of next year will remain at $74 and $65 per barrel, respectively. The probability of achieving this scenario is 60%; under a bearish scenario, the oil price expectations for the fourth quarter and the first quarter of next year are $60 and $55, respectively. Note: Prior to Citi's report, there were reports that Israel might limit retaliation against Iran to military targets.