JPMorgan: Continued closure of the Strait of Hormuz could soon halt oil exports from Iraq and Kuwait.

J.P. Morgan predicts that Iraq and Kuwait will be forced to close their usual oil supply through the Strait of Hormuz in approximately 3 days and 14 days, respectively. Analysts, including Natasha Kaneva, wrote that on the eighth day of the closure of the Strait of Hormuz, approximately 3.3 million barrels per day of oil production will be shut down. By the 15th day, this will increase to around 3.8 million barrels per day, and by the 18th day, it will increase to approximately 4.7 million barrels per day. These estimates only apply to crude oil and do not include refined products. The bank pointed out that this is a conservative estimate and does not include some oil reserves in the Persian Gulf and tankers that may be rerouted to both countries.