oil prices

OPEC+ will raise output by 188,000 bpd in June, but the Strait of Hormuz closure keeps Brent near $108, up 78% in 2026. J.P. Morgan warns of $150 if disruption persists.

US-Iran ceasefire brought oil prices down from $110 to $92 and S&P surged +2.85%. However, Strait of Hormuz remains 90-95% disrupted. Goldman Sachs warns Brent could stay above $100 through 2026.

Goldman Sachs economists warn the Iran war has elevated the risk of a U.S. recession within 12 months, as higher oil prices push inflation to 3.1% while growth slows simultaneously.