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JP Morgan sees Brent staying in low $100s even if Hormuz reopens in June

Posted on May 11, 2026
By Business News Today
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1 min read

JP Morgan sees Brent staying in low $100s even if Hormuz reopens in June

JP Morgan's revised framework assumes that ‌the pace ⁠of ⁠oil inventory depletion will ultimately force the Strait to reopen "one way or another," with the bank's base case anchored on a June 1 reopening following a credible announcement confirmed by both sides.