Fitch Ratings raises global oil and gas industry outlook, expecting Brent oil prices to remain high in the short term

Fitch Ratings has raised its outlook for the global oil and gas industry to 'Improving' as rising oil prices enhance profit prospects. It is expected that Brent crude oil will remain at $100 to $110 per barrel from June to July, and fall back to around $70 in September. Fitch assumes that supply will resume after the reopening of the Strait of Hormuz, and there is currently no substantial damage to major oil facilities. Short term energy supply concerns support oil prices, but the impact may gradually fade after the risks ease.