"JPMorgan and Goldman Sachs bet on Hormuz reopening by June, but warn buffers masking #crisis are #unsustainable: JPMorgan and Goldman Sachs are increasingly anchoring their forecasts around a Strait of #Hormuz reopening by June, an assumption now acting as the central pillar holding global #oil #markets together, according to reporting highlighted by HFI Research. JPMorgan’s base case targets reopening around June 1, while Goldman projects a gradual reopening finishing by late June, under which it sees Brent crude stabilizing before falling toward $90 per barrel by year’s end. The global economy has so far avoided a full-scale #energy #shock largely due to two temporary buffers: U.S. seaborne oil exports surged roughly 3.8 million barrels per day year-over-year over the past month, while China simultaneously slashed seaborne oil imports by 5.5 million barrels per day, apparently drawing down inventories rather than competing for supplies on global markets. HFI Research calculates those two shifts alone absorbed roughly 9.3 million of the 12.3 million barrels per day lost from Middle Eastern flows. Analysts warn, however, that neither buffer is sustainable long term and the system is increasingly fragile."

https://www.dropsitenews.com/p/trump-iran-ceasefire-life-support-israel-iron-dome-uae-nebraska-primary

#factoryfarming #ecology #unsustainable

https://eating2extinction.com/?utm_source=flipboard&utm_medium=activitypub

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