JPMorgan: Iran Attack Could Spike Oil to $120
Something that has never happened before now has a 7% chance
Last night Israel sent airstrikes into Iran targeting nuclear capabilities and leadership:
ISRAEL OFFICIAL CONFIRMS ATTACK TARGETED IRAN NUCLEAR SITES: APIRAN SUSPENDS FLIGHTS AT TEHRAN INTERNATIONAL AIRPORT: TASNIMISRAEL PREPARING FOR IRANIAN RESPONSE IN COMING HOURS: KAN NEWSIRAN STATE MEDIA: MULTIPLE MILITARY SITES IN TEHRAN TARGETEDIRAN NATANZ NUCLEAR SITE TARGETED: STATE MEDIAIRAN ARAK HEAVY WATER REACTOR FACILITY TARGETED: STATE MEDIAISRAEL LAUNCHED ANOTHER WAVE OF ATTACKS IN IRAN: ARMY RADIONetanyahu: 'Operation Rising Lion' LaunchedIranian official: Three residential buildings demolished where senior military leaders reside
Not a 1-Time Thing
This is not a one-and-done thing we feel. This is the beginning of a more chronic military situation at best leading to prolonged higher oil, viral kinetic problems popping up, and global economic turmoil. (More on why we feel that way in a post this weekend.) We do not care to think of the worst case scenario.
That said: JPMorgan literally explores what worst case as far as oil prices go looks like below