Global oil prices are predicted to stay above $100 for the rest of the year, even if the Strait of Hormuz reopens soon, according to JP Morgan. This forecast is based on ongoing supply disruptions and logistical challenges.

• Oil prices are expected to remain in the "low $100s" for most of the year, averaging $97 for 2026.
• Key players include JP Morgan, President Donald Trump, and Iran, with the conflict impacting the Strait of Hormuz.
• The market has experienced an "unprecedented supply loss of about a billion barrels of oil," with a slow normalization expected even after the waterway potentially reopens.