JP Morgan Says US-Iran Tensions Make Oil Price Forecasts Unreliable
The bank told clients it "simply doesn't know" how crude prices will move, citing uncertainty over how far the conflict between the United States and Iran could escalate.
JP Morgan has told clients it is struggling to forecast oil prices because of ongoing tensions between the United States and Iran, according to a report by BBC Business.
The bank reportedly said "we simply don't know" how the situation would develop, reflecting the difficulty of predicting crude prices amid the conflict.
According to the report, JP Morgan said it had "assumed" there would be economic red lines that the United States would be unwilling to cross, citing an oil price of $100 a barrel as one such threshold.
The bank's comments underline the broader uncertainty facing energy markets as investors and analysts attempt to gauge the potential impact of the US-Iran dispute on global oil supply and pricing.
BBC Business did not detail further specifics from JP Morgan's analysis in the excerpt reviewed for this report.
Sources
- 'We simply don't know' - JP Morgan struggling to forecast oil prices due to US-Iran war — BBC Business
EGazette summarizes reporting from multiple sources; follow the links for the originals.
Related articles
Qatar Says It Is Mediating to Revive US-Iran Talks
Qatari officials say mediators are shuttling between capitals in an effort to restart stalled negotiations between Washington and Tehran
Iran Says Strait of Hormuz Will Stay Closed Until US Meets Its Conditions
Parliament speaker says Tehran has relayed its demands to Washington through intermediaries and will not reopen the strategic waterway until they are satisfied
Iran Security Official Says Country Ready to Respond If US Resumes Military Action
Mohsen Rezaei, secretary of Iran's Supreme National Security Council, said Tehran is prepared to defend itself and respond forcefully to any renewed US military aggression, according to IRNA.
Iranian General Says Tehran Retains "Initiative" in Strait of Hormuz, Rejecting US Claims
Armed Forces spokesperson Brigadier General Abolfazl Shekarchi dismissed recent American statements about the strategic waterway, according to Iran's IRNA news agency.
Iranian Security Official Says Tehran Has Set Seven Conditions for Talks With US
Major General Mohsen Rezaei, secretary of Iran's Supreme National Security Council, said in a message that Tehran has laid out seven conditions to Washington for resuming negotiations, according to Iranian state media.
Iran Says It Could Resume Nuclear Talks If US Proves Sincerity
Tehran maintains negotiations remain possible but only after full implementation of the Islamabad agreement, according to TASS
Comments
Loading comments…