JPMorgan Ditches Iran War Forecast Amid Ongoing Conflict
JPMorgan has abandoned its forecast for when the Iran war will end, citing uncertainty about how to model the conflict's resolution.
Natasha Kaneva, head of global commodities strategy at JPMorgan, said that for the first time since the start of the conflict, her team does not have a baseline view on when the war might end.
The bank initially believed different scenarios would force President Donald Trump to reach an agreement reopening the Strait of Hormuz by June. However, six months later, with oil prices above $100 and gas near $5 per gallon, the exit strategy is less clear than ever.
Trump himself said he is approaching a key moment in the war and wants to use next week's UN General Assembly to discuss next steps with regional allies. He also stated that Iran wants to 'make a deal' and that hopefully they are toward the end of the war.