Analysts recommend using any potential summer rally in prices as an opportunity to sell

Brent crude sank as low as $70.14 - its lowest since late February before war broke out in the Middle East and pushed the price as high as $126.

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,…