Hormuz Closure Likely ‘Temporary,’ Fitch Ratings Says

Angelina Valavina, EMEA corporates, natural resources and commodities head at Fitch Ratings, discusses the impact of the war in Iran on oil markets. Speaking on Bloomberg Television, she says prices will moderate once the transit though the Strait of Hormuz restarts. She also comments on reports that Group of Seven finance ministers are set to discuss a possible joint release of oil reserves on Monday. “It is significant in the sense that it can cool down the oil prices,” Valavina says. (Source: Bloomberg)