22 Hrs
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البلاد
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JP Morgan Warns Oil Crisis May Persist
J.P. Morgan reported that the oil market is facing a state of uncertainty, as it has been unable to make accurate predictions since the start of the Iran conflict due to ongoing geopolitical tensions. Oil prices have risen above $100 per barrel, with the price of a gallon of gasoline reaching $4.37, while U.S. diesel prices hit an all-time high of $6.31 per gallon, as inventories declined to their lowest levels. Despite supply disruptions, prices have not increased significantly because global demand has dropped to 4.4 million barrels per day, amid rising risks to shipping routes in the Middle East and the ongoing attacks on energy sources. This reflects a period of financial and geopolitical uncertainty in the global oil market.
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