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Strait of Hormuz Closure: Fitch Says High Oil Prices a Temporary Shock as Supply to Return to Surplus Commodities
Energy & Petrochemicals #strait of hormuz#oil prices

Strait of Hormuz Closure: Fitch Says High Oil Prices a Temporary Shock as Supply to Return to Surplus

Fitch Ratings expects the Strait of Hormuz to reopen by end of July, bringing oil prices back to an average of $87 per barrel in 2026. The agency says the recent surge is a temporary logistical bottleneck, not a permanent supply loss, and markets will return to surplus from September.

Jun 14, 2026 1 source