J.P. Morgan oil analysts said, “We have no idea” when the Iran war will end, and the path to the end of the war is becoming more and more difficult to predict. The bank previously believed that many economic red lines that the US government would not cross have appeared, including oil prices breaking through $100 per barrel, gasoline prices approaching $5 per gallon, and surging treasury yields, making the exit strategy even more unclear. Analyst Natasha Kaneva and others pointed out that the price of oil is currently close to 106 US dollars per barrel, while the reasonable price of crude oil in September is estimated to be about 90 US dollars per barrel, which means that the market is taking into account the risk of supply loss of an additional 4 million barrels per day, which has previously caused the daily supply interruption of 10 million barrels. J.P. Morgan said that critical energy infrastructure, including Saudi Arabia's east-west oil pipeline, has recently been attacked, heightening concerns about further tight supply and strained market sentiment. Analysts believe that neither the US nor Iran have sent a clear signal that they are ready to ease the situation, so it is increasingly difficult to maintain the assumption that the current chaos is only temporary.

J.P. Morgan oil analysts said, “We have no idea” when the Iran war will end, and the path to the end of the war is becoming more and more difficult to predict. The bank previously believed that many economic red lines that the US government would not cross have appeared, including oil prices breaking through $100 per barrel, gasoline prices approaching $5 per gallon, and surging treasury yields, making the exit strategy even more unclear. Analyst Natasha Kaneva and others pointed out that the price of oil is currently close to 106 US dollars per barrel, while the reasonable price of crude oil in September is estimated to be about 90 US dollars per barrel, which means that the market is taking into account the risk of supply loss of an additional 4 million barrels per day, which has previously caused the daily supply interruption of 10 million barrels. J.P. Morgan said that critical energy infrastructure, including Saudi Arabia's east-west oil pipeline, has recently been attacked, heightening concerns about further tight supply and strained market sentiment. Analysts believe that neither the US nor Iran have sent a clear signal that they are ready to ease the situation, so it is increasingly difficult to maintain the assumption that the current chaos is only temporary.