JPMORGAN LOWERS OIL PRICE OUTLOOK
JPMorgan cut its Brent crude forecast for the second half of 2026, citing weaker inventory draws and softer-than-expected demand.
The bank now sees Brent averaging $86 per barrel in Q3, $80 in Q4, and ending 2026 at $78.
JPMorgan also warned that excess supply could require production cuts in early 2027.
P/L: +$5.3K👍Slower day like yesterday with locates hard to come by again but managed to get $CODX which respected levels pretty well for a couple nice short trades. Had things to do so only traded until 1 hour after the open. $INM
IRAN ISSUES MESSAGE TO COMMERCIAL VESSELS IN STRAIT OF HORMUZ SAYING IRAN'S PORTS FULLY PREPARED TO PROVIDE GENERAL MARITIME SERVICES AND SUPPORT TO THE VESSELS -IRNA