Fitch Ratings expects oil prices to fall after the reopening of the Strait of Hormuz

According to a Fitch report, the closure of the Strait of Hormuz has impacted logistics supply, but has not changed market trends. Assuming the strait reopens at the end of July, it is expected that the average price of Brent crude oil in 2026 will be $87 per barrel. At that time, oversupply will reappear, and oil prices may drop significantly from their high in March to July.