JP Morgan Warns of Oil Shock if Kharg Island Is Seized
JP Morgan reports that Iranian oil exports would stall if the U.S. and Israel seize Kharg Island. Global oil prices reached 119 dollars per barrel on Monday.
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A potential military move by the United States and Israel to seize the Iranian port on Kharg Island could cause oil exports from Iran to stall and production to be cut in half, according to a recent analysis by JPMorgan Chase & Co.. Such an escalation would likely trigger retaliatory strikes from Tehran against regional energy infrastructure, further destabilizing global markets.
