Bessent Blasts JPMorgan Over ‘Terrible’ Oil-Insurance Analysis

Treasury Secretary Scott Bessent blasted a JPMorgan Chase & Co. report for what he called “terrible” and inaccurate analysis about constraints over a US government lending agency’s ability to offer backup insurance for oil cargoes attempting to exit the Persian Gulf.

In a report Wednesday, JPMorgan analysts including Natasha Kaneva estimated that the Development Finance Corp. had about “roughly $154 billion of remaining headroom” under its current lending cap.