JPMorgan: ‘No End In Sight’ To US War On Iran; Aramco Cuts Off Crude
After six months of the US war on Iran, investment bank JPMorgan Chase's oil analysts have given up on modeling when the war will end, suggesting no relief is in sight from high crude prices that threaten global economic growth, Bloomberg reported on 18 September.
"For the first time since the start of the Iran conflict, we don't have a baseline view," said Natasha Kaneva, head of global commodities strategy, in a Thursday note. "We simply don't know how to model the endgame."
The bank's analysts previously assumed that US President Donald Trump would end the war before several economic "red lines" were crossed: oil above $100 a barrel, gasoline prices near $5 a gallon, and 10-year Treasury yields at 5 percent.