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JP Morgan Warns Oil Could Hit $120 if Hormuz Stalemate Drags Into July
JPMorgan said a slower rebound in tanker traffic could add $15 to $20 a barrel and push Brent near $120.
Summary by Oil Price
7 Articles
7 Articles
JP Morgan Warns Oil Could Hit $120 if Hormuz Stalemate Drags Into July
Oil prices could spike and hit again their peak Iran-war levels at nearly $120 per barrel if a full recovery of vessel traffic through the Strait of Hormuz takes until July, according to JP Morgan. Despite the ceasefire announced earlier this week, traffic through the critical oil chokepoint remains severely restricted and under supervision and approval by Iran's Islamic Revolutionary Guard Corps (IRGC). "The ceasefire has not reopened the Strai…
·London, United Kingdom
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Despite the temporary ceasefire between Iran and the US, traffic in the Strait of Hormuz has not returned to normal. JPMorgan warned that if shipments are delayed until July, the price of oil could test the $120 per barrel level.
Coverage Details
Total News Sources7
Leaning Left1Leaning Right2Center2Last UpdatedBias Distribution40% Center, 40% Right
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
40% Right
L 20%
C 40%
R 40%
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