CoinMeta data: JPMorgan pointed out in the latest commodity analysis that the fundamental value of Brent crude oil is around $94, although due to the Iran conflict, oil prices have risen above $115, showing a geopolitical premium of $21. Analyst Natasha Kaneva stated that actual oil prices are much higher than what the supply and demand fundamentals suggest, reflecting investors' willingness to pay an additional cost for potential future supply disruptions. Although transportation volumes through the Strait of Hormuz have resumed, recent attacks still pose a threat to oil prices. JPMorgan expects that if geopolitical risks ease, oil prices may face downward pressure, but they have not set $94 as a guaranteed trading target.