JPMorgan Sees Oil Falling to $70 as US-Iran Deal Boosts Stock Rally
Updated
Updated · Bloomberg · Jun 15
JPMorgan Sees Oil Falling to $70 as US-Iran Deal Boosts Stock Rally
1 articles · Updated · Bloomberg · Jun 15
Summary
$70 a barrel is Karen Ward’s near-term oil target, with the JPMorgan strategist arguing cheaper crude could revive the equity rally disrupted by the Iran conflict.
An emerging US-Iran agreement could drive that drop by unlocking frozen assets and adding Iranian supply to global markets in the coming weeks.
Ward said the supply effect may spread beyond Iran as OPEC cohesion weakens and Gulf producers move to monetize reserves at current prices.
Lower oil would act as a broad tailwind for stocks, potentially restoring market leadership that narrowed after the conflict broke out.