JP Morgan Sees No Clear Oil Market Endgame
JP Morgan stated it lacks a baseline view for oil markets as the Iran conflict persists. Analysts noted Brent fair value sits near 90 dollars while prices top 100 dollars amid low inventories.
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JPMORGAN CHASE & CO admitted on Thursday afternoon that it has no clear baseline view for oil markets as the conflict between the United States and Iran drags on. Six months into the war, analysts at the bank stated they no longer know how to model the endgame. Brent crude has climbed above $100 a barrel, with gasoline retailing at $4.37 a gallon and diesel hitting an all-time high of $6.31 a gallon ahead of winter.
