JPMorgan predicts Brent crude could hit $100/barrel pre-election

Summary: JPMorgan predicts Brent crude oil could reach $100/barrel pre-U.S. election due to Russia's increased output cuts. Russia's pledge to cut 471,000 barrels/day surprised markets. This move, part of OPEC+ commitments, could push Brent to $90 in April and near $100 by September. Gas prices may hit $4/gallon by May. The U.S. could tap strategic reserves to mitigate price hikes. Rising prices may impact demand.

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