JPMorgan Oil Forecast 2026: WTI Hits $98 on Day 73 — Your Investor Playbook for $100 Oil All Year

# JPMorgan Oil Forecast 2026: WTI Hits $98 on Day 73 — Your Investor Playbook for $100 Oil All Year

> **Quick answer:** WTI settled at $98.07 (+2.78%) and Brent at $104.21 (+2.88%) on Day 73 of the Iran ceasefire, as Trump called the truce "on massive life support" and Iran's latest response "garbage." JPMorgan now forecasts a $97 WTI average for all of 2026 — even assuming a deal eventually gets done — because infrastructure damage, mine clearance, and export backlog mean normalization won't arrive until 2027 at the earliest. This is a structural oil story, not a news-cycle blip, and your portfolio needs to reflect that.

*This article is for informational purposes only and does not constitute financial advice. Consult a qualified financial advisor for personal financial decisions.*

Day 73. The Iran ceasefire is still technically in place, but JPMorgan oil strategists say "something is off" with the current price math — and they mean that prices could go significantly higher from here. With the JPMorgan oil forecast 2026 centering on a $97 WTI average for the full year, the bank is effectively telling you that $100 oil is the new baseline, not a tail risk. Here is how to position for it.

## Day 73 Snapshot: The Numbers That Matter

WTI crude settled at $98.07 on Monday, a gain of 2.78% in a single session. Brent closed at $104.21, up 2.88%. Both benchmarks have now spent the majority of May trading above the psychologically significant $97-$100 corridor.