JP Morgan Says Strait of Hormuz Closure Could Trigger a Sustained Oil Price Shock

(Reuters) – JP Morgan believes that a Strait of Hormuz closure would likely trigger a sustained oil price shock that will reverberate through global macro developments, the bank said in a note.

It said that in the most extreme case of a broader regional conflagration that includes the closure of Hormuz, it estimates oil prices could surge to $120-130 per barrel.

Reporting by Anjana Anil in Bengaluru, editing by Deepa Babington

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