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The U.S. blockade of Iranian ports could accelerate the drawdown in global oil inventories, further tightening near-term supply and pushing back hopes of market normalization into mid-May, according to Société Générale.
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JPMorgan CEO Jamie Dimon called the economy resilient, but pointed to an "increasingly complex set of risks" across global markets.
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JPMorgan Chase beat first-quarter earnings expectations, with volatility from the Iran conflict leading to record market revenue and with consumers continuing to spend in the face of higher gasoline prices.
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Oil prices surged as markets reopened following news that U.S. peace talks with Iran had ended without a deal.
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