JPMorgan: Oil Prices Could Hit $120 Per Barrel | Forex Factory

  • JPMorgan: Oil Prices Could Hit $120 Per Barrel

    From oilprice.com

    JPMorgan Chase has warned that Brent crude oil prices could spike to $120 per barrel if a full-scale conflict in the Middle East leads to a sustained disruption of oil flows through the Strait of Hormuz, estimating that Gulf producers can only sustain normal production for roughly 25 days if the Strait is completely blocked, after which saturated storage would force a total shutdown of regional production. Oil prices were surging on Monday, with Brent crude for April delivery up 8.7% to trade at $79.28 per barrel at 9.00 am ET while the corresponding WTI contract gained 7.8% to $72.16 after U.S. and Israeli military ... (full story)

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E.Seitan
Mar 2, 2026 12:29pm
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If oil were to hit $120 a barrel, Trump would be, to put it lightly, fucked. If oil rises above $100 and stays there for even a few weeks, Russia would benefit a lot, and Trump wouldn’t be able to exert the same amount of pressure on Putin as he can now or even better, as he was able to a month or two ago, when /CL was hovering around the $58 mark. Domestically, Trump would also have a lot to lose if oil were to rise in such a way. So although I don’t think it’s impossible, I believe it would be quite unlikely to see oil hit $120.
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E.Seitan
Mar 2, 2026 1:36pm
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Quoting Vancarbon
{quote} Let’s not even bring the inflationary pressures into the equation . Off the scale isn’t an understatement
Literally just watched Jamie Dimon on Bloomberg Television 5 minutes ago saying the same thing. Inflation risk isn't fully beaten yet; this conflict also complicates things quite a bit, especially if it goes on for a month or so. Inflation and other economical indicators are where they are today mainly due to Powell's good decisions in the past years. With Warsh coming to the Fed, things are a little muddier. Times more uncertain than usual are coming; that's all I can say...
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Vancarbon
Mar 2, 2026 1:21pm
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Quoting E.Seitan
If oil were to hit $120 a barrel, Trump would be, to put it lightly, fucked. If oil rises above $100 and stays there for even a few weeks, Russia would benefit a lot, and Trump wouldn’t be able to exert the same amount of pressure on Putin as he can now or even better, as he was able to a month or two ago, when /CL was hovering around the $58 mark. Domestically, Trump would also have a lot to lose if oil were to rise in such a way. So although I don’t think it’s impossible, I believe it would be quite unlikely to see oil hit $120.
Let’s not even bring the inflationary pressures into the equation .

Off the scale isn’t an understatement
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Polimini
Mar 2, 2026 5:23pm
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Another stupid American war, another oil and gas price hikes. Fuck these idiots.
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TableTop
Mar 2, 2026 1:23pm
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Quoting Trader#ACAF
If JP Morgan tells you to buy, you need to go short !!!
So true
Trader#E439
Mar 2, 2026 11:15am
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That is fine american equities love wars, ATH to the moon
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Trader#ACAF
Mar 2, 2026 12:07pm
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If JP Morgan tells you to buy, you need to go short !!!
Reply
Balogunalaba
Mar 2, 2026 1:18pm
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No condition is permanent in the world Market to begin with....it's all about agreement or disagreement in its demand and supply volume that affects the Market Price to sudden increase or decrease
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