'We simply don't know' - JP Morgan struggling to forecast oil prices due to US-Iran war
"I think it's going to take a little bit longer than the midterm."High oil prices have been behind the rising cost of living in the US and around the world, with fuel and energy prices surging ahead of the colder months. The conflict between Russia and Ukraine also continues to have an impact.Analysts said with "no clear signals" of the war de-escalating, the assumption that global oil supply disruption was temporary is "becoming increasingly difficult to sustain".Related topicsOilIranMiddle EastJP MorganUnited States
- ▪"I think it's going to take a little bit longer than the midterm."High oil prices have been behind the rising cost of living in the US and around the world, with fuel and energy prices surging ahead of the colder months.
- ▪The conflict between Russia and Ukraine also continues to have an impact.Analysts said with "no clear signals" of the war de-escalating, the assumption that global oil supply disruption was temporary is "becoming increasingly difficult to s
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| Publication time | Fri, 18 Sep 2026 17:57:30 GMT |
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'We simply don't know' - JP Morgan struggling to forecast oil prices due to US-Iran warImage source, Getty ImagesByMichael RaceBusiness reporter, Reporting fromNew YorkPublished22 minutes agoInvestment banking giant JP Morgan has said it is struggling to predict how oil prices will be impacted by the US-Iran war, telling investors in a rare note that "we simply don't know how to model the endgame".The bank said it "assumed" at the start of the conflict that there would be "economic red lines" that the US would be unwilling the cross, and therefore it believed a deal would have been struck to open up the Strait of Hormuz shipping lane back in June.It said such red lines included oil prices rising above $100 a barrel, inflation rising to 4%, gasoline topping $5 a gallon and interest rates…
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