JP Morgan Says If The EU Imposes A Full Embargo On Russian Oil Next Week, Oil Prices Will Hit $185 Per Barrel

If the European Union is serious about squeezing Russian oil, it may need to brace for some pain.

A full and immediate ban could displace more than 4 million barrels a day of supplies — propelling Brent prices up by around 65% to $185 a barrel, JP Morgan warns.