Bangladesh, Sept. 20 -- JPMorgan has abandoned its usual baseline forecast for oil prices, acknowledging that the ongoing conflict involving the United States, Israel and Iran has created an unusually unpredictable market environment. The bank says it can no longer confidently model how the crisis will end or determine how the oil market will respond to the next stage of the conflict.

In a research note, JPMorgan analysts said, "We simply don't know how to model the endgame," marking an unusual departure for one of the world's most closely watched financial institutions. The bank said this was the first time since the beginning of the US-Israeli war against Iran that it had been unable to establish a clear baseline outlook for crude pri...