$185 in oil scenario from JPMorgan

JPMorgan stated that if the coup in Russia's oil supply continues, $185 in oil is in sight.
While global markets drew attention to the rising wave on the commodity side after Russia's attack on Ukraine, a scenario came from JPMorgan that the rise in oil would continue.

The bank predicted that if Russia's oil supply continues to be interrupted, Brent oil could end the year at $185.

While there was a rapid rise in oil prices after Russia's attack on Ukraine, Brent oil approached $120.

In the evaluation of JPMorgan analysts, it was stated that 66 percent of Russian oil has difficulty in finding buyers.

Analysts pointed out that the supply shock will be very large in the short term, assuming that Iranian oil will not be able to quickly return to the market.

Russian oil struggles to find buyers
A similar assessment came from the consulting firm Energy Aspects. The company said that 70 percent of Russian oil "has a hard time finding buyers".

“While the majority of Europeans do not touch Russian oil, only a few refiners and investors are still trading in the market, but the increasing level of fear and war insurance premiums complicates transactions significantly,” said Energy Aspects, adding that “several ship owners are reportedly avoiding the Baltic Sea and Black Sea region due to lack of war insurance.” used.

Hope for nuclear deal with Iran
The head of the International Atomic Energy Agency (IAEA) will travel to Tehran on Saturday for nuclear talks. It is stated that the Iran nuclear deal, which was signed in 2015, could be reinstated through the meeting.

Iranian officials are expected to meet with IAEA officials on Saturday. This visit increased the expectation that the nuclear agreement signed in 2015 will be reinstated.

IAEA President Rafael Mariano Grossi said yesterday that officials are optimistic about the possibility of a deal.

Former US President Donald Trump withdrew from the nuclear deal in 2018 and reimposed sanctions on Iran. With the Joe Biden administration coming to power, Washington and Tehran negotiated a return to the nuclear agreement through the European Union, but could not reach an agreement.