Position for an Imminent Iran Deal: Sell Oils, Buy Airports

J.P. Morgan specialist sales suggests positioning for an imminent Iran deal by taking profits in conflict-driven winners like upstream oils and rotating into beaten-down airports and toll roads.

Key Takeaways

• 1.An imminent Iran peace deal is expected, potentially as soon as the upcoming Memorial Day long weekend.
• 2.Investors should take profits in 'conflict winners' (Upstream Oils, Refiners, and Utility Generators) and rotate into 'conflict losers' (Airports, Toll Roads, and Technip Energies).
• 3.Economic pressure from rising US 10-year yields and high fuel prices is forcing the US administration toward a deal as the 'least bad option'.

Table of Contents

• Why now?
• Signs that something is happening
• Oils
• Utilities
• Infra
• J.P. Morgan Global Oil & Gas Contacts
• Sector Specialists
• European Oils & Gas Trading
• European Oil & Gas Research
• European Energy Corporate Access
• US Energy Trading
• US Oil & Gas Research
• Asia Energy, Mining & Materials Trading
• Asia/LatAm/EM Oil & Gas Research
• Global Commodities
• Disclaimers

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