⚫️For the first time since the start of the conflict in Iran, JPMorgan states that it no longer has a base-case forecast for oil prices, noting:
🔘
We simply don't know how to model the developments," and that the assumption that supply disruptions from the Middle East are temporary "is becoming increasingly difficult to maintain," according to JPMorgan Global Research.
🤣The bank said it had assumed there were economic "red lines" the Trump administration would not want to cross, and that six months later "many of those lines have been crossed, but the exit strategy from the situation has become less clear, not more."
😈Chevron's CEO said this week that the "great fuel crisis" has officially arrived, while Trump administration officials continue claiming that supply disruptions are temporary.
🔘Trump's Iranian adventure has turned into the biggest failure of American foreign policy in recent times after Afghanistan and Ukraine
#News #Economics #MiddleEast #OilPrices #USA #Trump #JPMorgan
🔘Subscribe now! Chat