Doomsday Scenarios for Oil - JP Morgan Sees $380 a Barrel, While Citi Sees $65 a Barrel.

From one extreme to the other, with one key word: complete uncertainty for the months to come.

The oil markets don't know which way to turn.

On the one hand, you have Citi looking at the possibility of $65 a barrel in the event of a global recession. On the other hand, analysts at JPMorgan are warning of a “stratospheric” oil price of $380 per barrel if geopolitical tensions continue.

But the scenarios developed by the experts agree that the global…