24 Hrs
Source:
المشهد العربي
Fitch notes challenges for Strait of Hormuz opening
A report by Fitch warns of significant risks and obstacles that could immediately hinder the reopening of the Strait of Hormuz, despite their expectation that oil prices will decline to around $70 per barrel if the anticipated agreement succeeds. The report emphasized that political tensions and military clashes in the region, especially between Israel and Lebanon, could hamper diplomatic understandings and increase the likelihood of a return to conflict, contingent upon security stability and the resumption of traffic through the strait. The agency also forecasted that oil prices could drop to their lowest level in three months.
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