SENSEX
NIFTY
GOLD
USD/INR

Weather

image 37    C

Economy News

The Economic Times

Economy / The Economic Times

details

Fitch sees global oil markets returning to oversupply after Hormuz reopens

Global oil markets are set to return to oversupply soon. Fitch Ratings reports the Strait of Hormuz closure is a temporary supply shock. Prices are expected to fall sharply once traffic resumes. The market anticipates a surplus from September. This is driven by West Asian production recovery, strong non-OPEC growth, and potential OPEC output increases.

9 Jun 2026 12:53 am