Oil Worst Case Scenario Gets Worse
JPM says it’s worse now
Yesterday before the Israel attacks and Iran counterattack started, there was a 7% chance of a price spike to 120 according to JPM.
Earlier today we offered an opinion on the situation from years of study under the mentorship of the great Peter Beutel
Now, JPM ratchets up their concern, even while Goldman (usually their partner in Oil bullishness) is not voicing much of their own.
Oil Flash Note- JPM
Israel’s attack on Iran raises worst-case scenario probability to 17% from 7%, they start.