Oil is facing a supply crunch — and the war in Iran isn’t the only problem

AI Summary

J.P. Morgan strategists warn of an oil supply crunch exacerbated by constraints in Russia’s refining system, compounding ongoing market tensions including the war in Iran. These supply issues are increasing concerns about energy security and market stability.

Constraints on Russia’s refining system have added to the existing crisis, strategists at J.P. Morgan said.