JPMorgan analyst tempts Scott Bessent's wrath once more with projections of oil shortages, possibly in California

JPMorgan warns the effective closure of the Strait of Hormuz is already causing shortages in Asian countries and will produce global shortages within six weeks. This is a major geopolitical shock to oil/commodity flows and trade routes that will tighten energy markets, disrupt supply chains and put upward pressure on prices worldwide.

Analysis

JPMorgan warns the effective closure of the Strait of Hormuz is already causing shortages in Asian countries and will produce global shortages within six weeks. This is a major geopolitical shock to oil/commodity flows and trade routes that will tighten energy markets, disrupt supply chains and put upward pressure on prices worldwide.