Crude jumps 7% on Israel-Iran tension: 4 reasons why JPMorgan still bets on $60 target
Crude prices surge 7% on rising tensions between Iran and Israel, with potential for further increase. JPMorgan maintains base case for oil prices in low-to-mid $60/bbl range, citing four reasons: low risk of Hormuz closure, Middle East's economic transformation, US hopeful for nuclear deal with Iran, and upcoming IAEA vote.