JPMorgan: Oil Risk Shifts North of Hormuz
JPMorgan warns that the most significant oil supply risk is no longer the Strait of Hormuz but a new threat nearly 2,000 miles farther north.
CL
JPMorgan analysts have identified a shift in the primary risk to oil markets, moving attention away from the traditional chokepoint of the Strait of Hormuz. According to the bank, a more durable oil shock may now be developing approximately 2,000 miles north of the strait.
The exact nature of the northern risk is not detailed in the report, but the warning signals a potential long-term disruption to supply that markets have not yet fully priced in. The reassessment comes as geopolitical tensions continue to evolve.
Source: FXStreet Forex News