JP Morgan says Strait of Hormuz closure could trigger a sustained oil price shock
ReutersJun 19, 2025 5:55 PM
June 19 (Reuters) - JP Morgan believes that a Strait of Hormuz closure would likely trigger a sustained oil price shock that will reverberate through global macro developments, the bank said in a note.
It said that in the most extreme case of a broader regional conflagration that includes the closure of Hormuz, it estimates oil prices could surge to $120-130 per barrel.
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