Oil Buying Opportunity May Have Arrived: Citi

Oil prices have dipped, with Brent crude hovering around $77 per barrel, leading some market analysts to spot potential short-term buying opportunities. Citi Research, in a note dated August 21, and seen by Investing.com, sees this price pressure as a likely precursor to a rebound despite recent easing in geopolitical tensions. The recent price decline is primarily driven by two key factors: easing geopolitical risks, particularly in Gaza with a potential ceasefire on the horizon, and China's economic slowdown. China's weakened industrial production…