In the long history of oil markets, geopolitical shocks have always carried a price — but they have also, eventually, carried a resolution. The escalating confrontation between the Trump administration and Iran has introduced something rarer and more unsettling: a conflict without a visible endpoint, forcing institutions like JP Morgan to publicly abandon their forecasting models. When the world's most sophisticated financial minds confess they cannot see what comes next, the uncertainty itself becomes the market condition, and the global economy must navigate without one of its most essential