Fitch - Brent Crude to Average $120 on Six-Month Hormuz Closure, Peak at $170

Fitch Ratings warns Brent crude could average $120 per barrel this year if Strait of Hormuz remains blocked for six months, with peak prices reaching $130-170 before declining to $90 by year-end, representing 71% increase from baseline $70 forecast amid potential demand destruction of 5.5%