Investment banking giant JP Morgan has admitted it is struggling to accurately predict future oil prices due to the Iran war.
Experts have been forced to admit to investors they "simply don't know how to model the endgame".
The BBC reports the bank had made assumptions at the beginning of the conflict that there would be "economic red lines" that the Trump administration would not cross, and that a deal would have been reached to reopen the Strait of Hormuz in June.
The red lines reportedly included oil prices topping $100 a barrel and rates on 10-year government borrowing reaching 5% - both of which have now happened.
JP Morgan analysts have said the market "is on edge".
A note from the bank's commodities research team said: "Six months later [since the war began], many of those lines have been crossed, yet the exit strategy is less clear, not more.
"For the first time since the start of the Iran conflict, we don't have a baseline view. We simply don't know how to model the endgame."
FSTE100
The UK's flagship share index, the FTSE 100, was down 99 points at 10,695 shortly after opening this morning.
Brent crude oil futures were down 2%, sitting at $101.79 a barrel this morning.
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