Fitch upgrades the global oil and gas outlook to "improving," forecasting Brent prices to remain in the $100–$110 range in the short term.

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Fitch upgraded the global oil and gas outlook to "Improving" on June 8, noting that higher oil prices have enhanced profit potential. Brent crude is expected to remain between $100 and $110 per barrel in June and July due to Hormuz shipping disruptions, with prices potentially falling to $70 by September as supply resumes. Fitch sees no significant damage to key infrastructure. Market sentiment, including the Fear & Greed Index, remains sensitive to energy market shifts. Traders are advised to monitor altcoins amid ongoing volatility.

BlockBeats news, on June 8, Fitch Ratings upgraded the global oil and gas industry outlook from its previous level to "Improving," citing recent oil price increases that have enhanced the industry's profit prospects.

Fitch expects Brent crude oil prices to remain in the range of $100 to $110 per barrel from June to July amid disruptions in transportation through the Strait of Hormuz, but anticipates a decline to around $70 per barrel by September as supply recovers.

Fitch assumes that global crude oil production will quickly rebound after the Strait of Hormuz reopens, and believes that no substantial damage has occurred to major oil infrastructure.

The institution stated that short-term concerns about energy supply will continue to support oil prices, but the upward pressure on prices is expected to gradually ease as geopolitical risks subside and production capacity recovers.

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