JPMorgan Admits It No Longer Has Any Idea What Happens Next In The Iran War

For much of the past 6 months, JPMorgan's commodity team would try to do the seemingly impossible every week (with mixed results at best): predict which way the Iran war would go, and how that would impact the world of commodities.

Not any more: in her latest weekly Oil Markets Weekly note (available to pro subs), JPM's head of commodities Natasha Kaneva writes that "for the first time since the start of the Iran conflict, we don’t have a baseline view. We simply don’t know how to model the endgame".