Citi: Israel's actions complicate Trump's efforts to lower oil prices

Jin10 Data, June 13 - Citigroup analysts stated in a report that the Trump administration’s goal of achieving low oil prices may become complicated due to Israel’s attack on Iran, which pushed Brent crude prices up to $78.50 overnight. “The only way to lower oil prices is through diplomatic means, as changes in oil supply may outweigh changes in demand.” Since U.S. oil producers have not yet taken action to increase production, and Saudi Arabia is already accelerating the restoration of oil supply, releasing Iranian oil could effectively increase supply, but Israel’s military actions may delay or disrupt the U.S.-Iran negotiation process. Citigroup expects that any supply disruptions will be limited, and “energy prices are not expected to remain high for an extended period.”