JP Morgan are wary of a disruption to oil supply and thus higher prices

<p>JP Morgan says that while in the current environment, uncertainty is high, war in Israel is unlikely to disrupt oil supplies.</p><p>The 'but' is:</p><ul><li>"There has been no immediate impact on current global oil production … supply could be disrupted if the U.S. were strictly to enforce restrictions on Iranian oil exports or if disruptions spread to the Strait of Hormuz" </li><li> “Near-term supply-demand balance and the resulting change in oil inventories remain the main fundamental drivers of our oil price forecast, not geopolitics”</li></ul><p>—</p><p>Brent update:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.