37
Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
Ratings agency, Fitch is raising its 2026 annual average crude oil price forecast to US$70 a barrel from US$63 (Brent).
According to the UK-based firm, it assumes that the Strait of Hormuz remains effectively closed for about a month. However, it anticipates oil prices falling to the mid-US$60s by the second-half of 2026.
“We raised our 2026 annual average oil price forecast to US$70 a barrel from US$63 (Brent).
This assumes that the Strait of Hormuz remains effectively closed for about a month, but oil prices then fall to the mid-US$60s by 2H26 [second-half].
This revision has not had a major impact on our base-case economic forecasts”, it stressed in its latest report.
Source: newsthemegh.com