JPMorgan: If the Strait of Hormuz deadlock continues, oil prices will retest wartime highs

```htmlGolden Ten Data reported on April 10 that JPMorgan analysts stated that if cargo transportation through the Strait of Hormuz cannot be fully restored until July, oil prices are likely to test wartime highs. The analysts noted that the market is currently pricing in a rapid reopening of this waterway, expecting to see about half of normal traffic resume in May and a complete recovery in June. However, "if it takes until July to gradually return to 100% of pre-war levels, there could be an upward price risk of $15 to $20 per barrel." According to the analysts, as of April 9, an estimated 346 energy-related vessels remain trapped in the Persian Gulf, including 241 that are already loaded. These vessels are carrying a total of 104 million barrels of crude oil and condensate, 1.3 million tons of liquefied natural gas, and 5.5 million barrels of liquefied petroleum gas.```