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Analysts give up on predicting gas prices

theblaze.com · 4h · first reportShare

As the war with Iran drags on into its seventh month, uncertainties over oil prices have even stymied the experts charged with predicting futures. This week, J.P. Morgan officially abandoned any attempts to anticipate the outcome, claiming that analysts don’t know how to model the end of the war fueling the chaotic gas price surge. This stunning admission came down from the head of global commodities research at J.P. Morgan, Natasha Kaneva. According to CNBC , she released a client note Thursday stating, “For the first time since the start of the Iran conflict, we don't have a baseline view” of the oil market. ’This will be a brief and temporary interruption.’ Kaneva followed that with, "We simply don't know how to model the endgame." These fears are largely exacerbated by the continued struggle over the Strait of Hormuz. Despite President Donald Trump’s insistence that the United States “ powerfully " controls the strait, Iran claims the opposite, saying that the vital shipping path i