JPMorgan says US gas prices could soon jump above $5 a gallon if the Iran war drags on
Israel
US gas prices could top $5 a gallon this month if the war in Iran keeps the Strait of Hormuz shuttered in the coming weeks, JPMorgan said. The bank wrote that the US is at lower risk of shortages compared to other global economies, but it warned that Americans will feel the impact of the war and oil market disruptions through higher gas prices as US and Brent oil both hover around $110 a barrel. "Asia is the first region to feel physical shortages, while the US is more likely to avoid supply
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