Citigroup Research has increased its Brent crude oil price forecast, citing the ongoing Iranian conflict. The bank now expects prices to reach $75 in Q1, $78 in Q2, and $68 in Q3, up from previous estimates of $73, $70, and $62, respectively. Citigroup anticipates short-term price fluctuations between $80 and $100 per barrel. Analyst Eric Lee noted that while the US, Israel, and Iran are unlikely to escalate the conflict further, the risk of attacks on regional energy infrastructure remains high, potentially leading to an oil shock reminiscent of the 1970s.