JPMorgan struggles to forecast oil price as Iran war deepens Nigeria’s petrol concerns

JPMorgan is currently facing difficulties in forecasting global oil prices as an escalating conflict involving Iran exerts renewed pressure on international crude and refined-product markets.

Simultaneously, this global market volatility has deepened petrol supply and pricing concerns in Nigeria. Citizens in parts of Abuja are facing a fresh increase in fuel costs, with pump prices rising past N1,400 per litre.