Fitch: The oil price crisis triggered by the US-Iran war has impacted global growth prospects, lowering the global growth forecast for 2026 by 0.2 percentage points to 2.4%
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The Strait of Hormuz has been closed for 14 weeks, and we assume it will not begin reopening until July. We have raised our assumed average Brent crude oil price for 2026 from $70/barrel in March to $87/barrel.
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