JPMorgan predicts further oil price increases as global stocks fall sharply

9 articles · Updated · OilPrice.com · Apr 24

Global oil inventories dropped by 7.1 million barrels per day in April, with supply disruptions reaching 13.7 million barrels per day amid the Iran war.
Brent crude traded near $105.40 per barrel, up over 70% this year, while U.S. gasoline averaged $4.048 per gallon, reducing driving and flight demand.
JPMorgan warns that physical shortages are suppressing consumption, especially in the Middle East, Asia, and Africa, and suggests even higher prices may be needed to balance the market.

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