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JPM: Middle Eastern Oil Producers May Need to Halt Production if Strait of Hormuz Closes for 25+ Days
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If the Middle East conflict escalates and leads to the actual closure of the Strait of Hormuz for more than 25 days, major oil producers in the Middle East may be forced to halt production, JPMorgan released a research report saying. The US and Israel launched attacks on Iran over the past weekend, prompting Iran to retaliate with missile strikes targeting multiple countries, including Qatar, the UAE, Kuwait and Bahrain. The US military will continue bombing Iran until its objectives are achieved, US President Donald Trump stated. AASTOCKS Financial News Website: www.aastocks.com |
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