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Story summary
- Natasha Kaneva of JPMorgan says the approaching U.S.–Iran deal deadline could disrupt oil markets.
- She notes Bangladesh and Indonesia are already affected, with Africa to face severe effects.
- If Hormuz remains closed, oil prices could spike by late May; if open, normalization would take longer due to repairs and security concerns.
- Normalcy may not return until four months after a ceasefire, affecting summer travel and U.S. midterms.
