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JPMorgan says it lacks an oil market baseline amid Iran war

Reported · Written up by our desk · Energy

For the first time since the Iran war began, JPMorgan says it no longer has a clear baseline for how the oil market will come out of the conflict, according to OilPrice.

The bank had previously assumed that higher oil prices and the economic damage they caused would eventually limit how far the conflict could go, but JPMorgan says many of those thresholds have already been crossed about six months into the war.

OilPrice frames the update as a shift from earlier JPMorgan modeling, removing the prior expectation that economic and price effects would cap the conflict's extent.

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