
Limited Iran Strike Seen as Oil Market Baseline, Not Global Disruptor
Morningstar views a limited U.S. strike on Iran as the base case, likely preserving global oil flows and lifting prices mainly due to geopolitical risk; a severe strike or Strait of Hormuz closure is unlikely, while JP Morgan suggests a diplomatic outcome with Iran and a Ukraine ceasefire could keep inventories in check, with Brent prices around the mid-60s.




