Citi expects Brent crude to reach $95 and $130 in its bullish scenario for the second quarter.

April 2 (Reuters) - Citigroup expects Brent crude to average $95 a barrel in its baseline estimate and $130 a barrel in its upside scenario for the second quarter of this year.

Brent crude futures rose to around $110 a barrel on Thursday after U.S. President Donald Trump said his country would continue its attacks on Iran, raising fears of prolonged disruptions to oil supplies.

Trump offered no details on possible steps that could lead to the reopening of the Strait of Hormuz, through which about 20 percent of the world's oil and gas supplies pass.

In late March, Goldman Sachs raised its forecast for the average price of Brent crude for 2026 from $77 to $85 a barrel.


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