Oil’s ‘Bull Run’ May Be Over on Supply, JPMorgan Says

Crude oil’s “bull run” may be over as prices become increasingly volatile and Saudi Arabia pledged to boost supplies, according to JPMorgan Chase & Co., the third- largest U.S. bank.

While using $90 a barrel as the oil price estimate for this year, JPMorgan is using $85 a barrel for its long-term oil price estimate for 2009 onwards, the analysts said.