Market Factors: J.P. Morgan’s oil forecast will make nearly everyone unhappy

In this Market Factors, I’ll detail a two-year oil price forecast from J.P. Morgan commodity strategist Natasha Kaneva that was bearish enough to surprise me. I will also consider if my skepticism on domestic bank stocks is wavering and describe a potential death spiral for 100 U.S. cities where insurance companies are pulling back.A sculpture of oil rig workers, "Tribute to the Roughnecks" by Cindy Jackson, is pictured in a park atop Signal Hill, California.J.P.

Rising global supply will be the limiting factor for the commodity price, according to the strategist. She expects the global market to shift from balanced this year to a surplus of 1.3 million barrels per day in 2025. This is in large part caused by a 1.8 million barrel per day jump in supply from Brazil, Guyana, Senegal and Norway.

Tesla has furloughed employees on the Cybertruck production line, General Motors is selling its stake in a Michigan battery plant and Ford Motor has halted production of the F-150 Lightning. These are only recent three examples of declining demand for electric vehicles that will only get weaker as U.S. gasoline prices remain low.that I wasn’t in a hurry to buy them after reading Scotiabank analyst Meny Grauman’s most recent research report. Mr.

The average yield in the bank sector is over four per cent and that, combined with the fact that three-year periods when domestic bank stocks lose money are exceedingly rare, makes buying and holding a reasonable option for investors. Still, the prospect is not that exciting for me.uncovered 100 U.S. cities where insurance was likely to be withdrawn or become unaffordable due to climate change.

Bank earnings continue. Royal Bank and National Bank reported Wednesday. The former blasted past consensus estimates and raised the dividend. National Bank also raised the dividend while reporting profits slightly above forecasts. On Thursday, CIBC , TD Bank and BMO report.

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