Citigroup forecasts Brent crude falling to $60-$65 a barrel by year-end as Hormuz shipping normalizes and a U.S.-Iran deal nears.

Supply worries have further been eased as traffic volume in Strait of Hormuz continues to increase

Citi forecasts oil prices to drop to $60 as Hormuz tensions ease. New all-time high for crude oil by September 30 at 4.1% YES.

Citi expects Brent crude to fall to $60 a barrel by year-end as shipping through the Strait of Hormuz normalises and supply concerns ease. The brokerage sees improving oil flows,…