JP Morgan Analysts Warn Russian Sanctions to Backfire, Skyrocket Oil Price

Elvis Dunderhoff July 3, 2022

This economic collapse storyline is boring.

They should bring back monkeypox.

This economic collapse is confusing and not believable. Why are they boosting the Russian economy? We are supposed to believe these people are this stupid? Are we supposed to believe no one in the US government can do basic math?

RT:

Global oil prices could reach a “stratospheric” $380 per barrel if Western penalties prompt Russia to impose retaliatory output cuts, according to JPMorgan Chase analysts.

“The most obvious and likely risk with a price cap is that Russia might chose not to participate and instead retaliate by reducing exports,” the analysts wrote in a note seen by Bloomberg.

“It is likely that the government could retaliate by cutting output as a way to inflict pain on the West. The tightness of the global oil market is on Russia’s side.”

In late June, US President Joe Biden announced plans to put an embargo on insuring ships transporting Russian oil, as part of sanctions against Moscow over its attack on Ukraine.

…

JP Morgan Chase experts noted that sanctions-hit Russia can afford to cut daily crude production by up to five million barrels without excessively damaging the economy, given Moscow’s robust fiscal position.

“Moscow’s robust financial position.”

Why did the US start this war with Russia on purpose and then do all these things to help Russia?

It’s a stupid storyline. We should bring back monkeypox, or something much better. Why not the earth being on a collision course with an asteroid? At this point, why not zombies?

Why can’t I be hired to write these stories?

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