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JP Morgan says Brent can stay in low 100s even if Hormuz reopens this June
Economy
Published on 11 May 2026
A June reopening may not lift prices much
JP Morgan revised its oil outlook around the Strait of Hormuz. Even with a base case that assumes a June 1 reopening after a credible announcement confirmed by both sides, the bank expects Brent to remain anchored in the low 100s. The key driver is the projected pace of oil inventory depletion, which should eventually force reopening regardless of timing.
- JP Morgan anchors a base case for Hormuz reopening on June 1
- Reopening depends on a credible announcement verified by both sides
- Brent is expected to stay in the low 100s even after reopening
- Inventory depletion pace is the central pricing driver
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times