MarketsInsider/Carla Mozee/4-19-2022
“A full and immediate embargo would displace 4 million barrels per day of Russian oil, sending Brent crude to $185 a barrel as such a ban would leave “neither room nor time to re-route [supplies] to China, India, or other potential substitute buyers,” the investment bank said in a note. That would mark a 63% surge from Brent’s close of $113.16 on Monday.”
USAGOLD note: JP Morgan explains the ramifications of a European oil embargo, including the developing logistical problems that could drive prices higher … $185 oil could present a major problem. Nothing fans the inflationary fires like a rising oil price.
Chart courtesy of TradingEconomics.com
