New York, March 2, 2026, 19:21 EST — Trading in the after-hours session.
- Citi shares climbed roughly 1.1% in late trading, changing hands at $111.45.
- Some staff in the Middle East have been asked by the bank to work remotely, with contingency plans also in place, according to the firm.
- Oil prices, deal chatter, and Citi’s earnings set for April 14 are all grabbing traders’ attention right now.
Citigroup shares climbed 1.1% to $111.45 in after-hours action following the 4 p.m. close in New York on Monday. The stock’s range landed between $110.70 and $111.87, with about 19 million shares traded.
This shift is notable. Bank stocks have been sensitive to sharp swings in volatility and oil—factors that can boost trading income but also freeze corporate dealmaking. Citi’s global footprint means it’s more exposed to operational developments than rivals with a U.S. focus.
Citigroup and JPMorgan told staff based in the Middle East to work remotely as the U.S.-Israeli air campaign against Iran intensified, according to two people with knowledge of the situation who spoke to Reuters. Citi said it’s still taking steps to protect its workers and their families, and noted contingency plans are in place so clients continue to be served. The bank doesn’t foresee any disruption to regional operations. 1
U.S. equities finished the session barely changed, swinging on headlines about the air strikes before bargain hunting kicked in for tech and defense stocks. The Dow slipped 0.15%, the S&P 500 inched up 0.04%, and the Nasdaq rose 0.36%. U.S. crude spiked 6%, closing at $71.23 per barrel. “I just don’t think the average market participant is that moved by the conflict until the price of oil gets to $100 a barrel,” said Alex Morris, CEO of F/m Investments. Bill Smead at Smead Capital Management put it this way: “When people get scared, they go back to what is comfortable.” 2
Citi led the pack among the major U.S. banks, outpacing both JPMorgan and Bank of America during the session. Wells Fargo also finished in positive territory. 3
Citi traders are watching crude prices closely, along with signs that capital markets activity could either keep moving or hit a wall. The flow of debt and equity deals counts just as much as the daily volatility on the trading desks.
The risk here is clear enough: any escalation widening the conflict and driving oil prices higher could hit risk appetite, prompting companies to put off financings and deals, and weighing on the broader economy. For lenders, that’s a negative backdrop—even if some market-facing businesses benefit from the extra volatility.
Citi has its first-quarter 2026 earnings call lined up for April 14, with investor day following on May 7. 4
