JPMorgan oil team gives up on forecasting Iran war endgame as Trump blows past economic redlines
JPMorgan assumed at the start of the war that several economic redlines would force President Donald Trump into an agreement to open the Strait of Hormuz.
The rapid advances made by Houthi rebels in Yemen have disrupted shipping in the Red Sea, potentially complicating U.S. President Donald Trump's economic warfare campaign against Iran. Having exhausted many of America's military options during over six months of fighting, Trump has resorted to economic sanctions, dubbed "Economic D-Day," to inflict further damage on Iran's struggling economy.
While Iran's economy is already suffering from high inflation and weakened currency, it has maintained its campaign of disrupting shipping in the strategic Strait of Hormuz, which remains closed to most commercial traffic. Now, with the Houthis advancing along Yemen's Red Sea coast, Iran's ally could potentially hold another leverage card over Trump if they disrupt maritime traffic in the Red Sea as well.
Written by urgent.news from Al Majalla English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Trump weighs major Iran decision: ‘Do I want to annihilate them?’ israelnationalnews.com
