[Citigroup: Oil Prices May Drop to $60 Per Barrel as Hormuz Strait Crisis Eases] Odaily Planet Daily News - Citigroup stated that as disruptions in the Hormuz Strait gradually ease, Brent crude oil prices could fall to $60 per barrel by the end of the year, further exacerbating pessimism about the global crude oil market. Citigroup analyst Francesco Martoccia noted in a report: 'As the Hormuz Strait crisis subsides, fundamentals are rapidly recovering. Shipping traffic is returning to normal, the spot crude oil market has weakened significantly, and inventory declines are far below expectations.' The analyst added that the initial phase 'is expected to be relatively volatile, as shipping routes need to normalize, the insurance market requires adjustments, and remaining logistical bottlenecks need to be gradually resolved.' They also pointed out, 'The restoration of orderly navigation patterns and increased traffic volumes indicate that commercial operators increasingly view the risk environment as manageable rather than overwhelming.' (Jin10)