Oil & Gas

Oil is ‘trade of the year’ for Citigroup after Iran export surge


Stick with oil, it’s could be the “trade of the year,” according to Citigroup Inc. The outlook for crude isn’t all bad, even as prices head for the worst start to a year since 1991 and there are dire warnings of the world drowning in supply. Forecasters from UBS Group AG to Societe Generale SA are predicting a rebound in the second half and Citigroup says the market just needs to weather a surge of exports from Iran after the removal of sanctions.