Report

'We simply don't know' - JP Morgan struggling to forecast oil prices due to Trump's war with Iran

BBC News2 months agoAnalysis

JP Morgan has admitted it cannot forecast oil prices amid the US-Iran war, saying it doesn't know how to model the conflict's endgame after its assumptions about US economic red lines proved wrong. The bank noted that oil prices have surged above $100 and 10-year borrowing rates have topped 5%, crossing thresholds it had expected would force a deal.

Getty Images A Gambia-flagged tanker vessel Bili is pictured anchored in the Strait of Hormuz off Bandar Abbas in southern Iran in May.

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Five men were arrested after police found suspected improvised explosive devices in three vans near RAF Fairford, a base used by the US military. The investigation is now examining whether a foreign state was behind the plot.

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US TV networks suspend White House pool coverage over Trump media ban

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South African white genocide does not exist, new ambassador to US tells BBC

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