>JPMorgan's (JPM) commodities team has formally abandoned its baseline forecast for oil markets, marking an unprecedented admission from one of Wall Street's most influential energy desks that the Iran conflict, now in its seventh month, has become impossible to model. >“For the first time since the start of the Iran conflict, we don’t have a baseline view,” wrote Natasha Kaneva, head of global commodities strategy, on Thursday. “We simply don’t know how to model the endgame.”>Kaneva added that the economic thresholds the firm once assumed would force the Trump administration to negotiate a resolution to the Strait of Hormuz closure have all been breached without producing a diplomatic offramp. Oil (CLV26) above $100 per barrel, gasoline (RBV26) near $5 per gallon, diesel at a record $6.31 per gallon, and the 10-year Treasury yield ($TNX) surpassing 5% were all viewed as political pain points that would compel de-escalation, yet the conflict has only intensified.>The situation has been compounded by a drone strike that knocked Saudi Arabia's critical East-West pipeline offline and by Houthi advances along the Red Sea coast that threaten tanker traffic through the Bab el-Mandeb Strait. These developments have systematically dismantled the alternative export routes that had partially compensated for the effective closure of the Strait of Hormuz.>JPMorgan has flagged the September 24 Trump-Xi summit in Washington as the last near-term inflection point before markets begin treating the supply disruption as structural rather than temporary, a shift that could push fourth-quarter prices significantly higher and deepen the global economic damage already underway.
OMFG ARE YOU SERIOUS!!?What does that mean and why should I care lol. My life is fantastic.
>>542867868It means Diesel at $40 a gallon.
the fire rises
>>542867797Why should they be concerned? The cocaine trade is more lucrative.
>>542867868it means shit is absolutely fucked and they're trying to stave off the obvious financial disaster panic that by all rights is already here simply by not talking about it
Oil was $130 a barrel for years under Biden and the equivalent, adjusted for inflation, under Obama. But these prices were artificial, the big bankers could model the market because they were in touch with the Biden people and Obama people making oil harder to drill for and buy.Now the situation is, the bankers and bureaucrats have no control over the oil price, they must be really put out that THEY aren't the ones deciding what it is lol. LMAO even.Trump tried to make a deal to suspend the gas tax, was rebuffed. His next move? Just in time for harvest, he will suspend oil exports. Wait and see.
OP is a faggot and did this yesterday
