Strait of Hormuz closure: Why high oil prices may be a temporary shock only – explained

“Oil prices will be lower if Hormuz reopens earlier. Uncertainty remains high regarding the timing of Hormuz reopening, and oil prices will remain volatile as a result,” Fitch says. “Oil prices will be lower if Hormuz reopens earlier. Uncertainty remains high regarding the timing of Hormuz reopening, and oil prices will remain volatile as a result,” Fitch says.