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J.P. Morgan abandons baseline oil forecast amid Iran conflict uncertainty
Axios·IR·1 day ago
The US Army reports escorting over 2,000 commercial vessels carrying 1 billion barrels of crude through the Strait of Hormuz, while claiming a total blockade on Iranian oil exports. This signals sustained US naval presence and enforcement of sanctions, though the blockade's effectiveness and Iranian countermeasures remain uncertain. The development underscores elevated tensions in a critical chokepoint for global oil supply.
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