Fitch: Strait of Hormuz closure has lasted 14 weeks, raising Brent crude oil average price forecast to $87 per barrel

Odaily reported that Fitch noted the Strait of Hormuz closure has been ongoing for 14 weeks. Assuming it will not begin reopening until July, the agency has raised its 2026 average Brent crude oil price assumption from $70 per barrel in March to $87 per barrel. (Jin Shi)