JPMorgan predicted that if the war continues, Brent oil could end the year at $185.
While global markets drew attention to the rising wave on the commodity side after Russia attacked Ukraine, JPMorgan reported that the rise in oil would continue. The bank predicted that Brent oil could end the year at $185.
While there was a rapid rise in oil prices after Russia’s attack on Ukraine, Brent oil approached $120.
In the evaluation of JPMorgan analysts, it was stated that 66 percent of Russian oil has difficulty in finding buyers. Analysts pointed out that the supply shock will be huge in the short term.
A similar assessment came from the consulting firm Energy Aspects. The company said that 70 percent of Russian oil “has a hard time finding buyers.”
