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AXIOS (Ben Geman) - Oil's shrug emoji era

And the award for honesty in oil market analysis goes to ... J.P. Morgan! - "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," bank researchers said in a note (emphasis added). Why it matters: While the phrasing is unusually blunt, the sentiment is shared to varying degrees . - Market watchers have come to grips with the likelihood that the status of the Strait of Hormuz — and the number of barrels getting through — will be messy for months to come. The big picture: At the outset of the Iran war, J.P. Morgan's "Oil Markets Weekly" crew assumed there were "economic red lines" the White House would not cross. - The list includes $100 oil; gasoline…

And the award for honesty in oil market analysis goes to ... J.P. Morgan! - "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," bank researchers said in a note (emphasis added). Why it matters: While the phrasing is unusually blunt, the sentiment is shared to varying degrees . - Market watchers have come to grips with the likelihood that the status of the Strait of Hormuz — and the number of barrels getting through — will be messy for months to come. The big picture: At the outset of the Iran war, J.P. Morgan's "Oil Markets Weekly" crew assumed there were "economic red lines" the White House would not cross. - The list includes $100 oil; gasoline…Open