Oil could hit $120 next year – Fitch Ratings ...News

Russia Today - Economy
Oil could hit $120 next year – Fitch Ratings
source : Russia Today ( News ) () 46
The spike in energy prices could be a result of the escalating Middle East conflict, according to a new report The conflict in the Middle East threatens to disrupt the oil supply and subsequently hurt global economic growth in 2024, Fitch Ratings has warned. In a report on Friday, the agency outlined a potential scenario with higher-than-expected oil prices, which is expected to curb world GDP growth by 0.4 percentage points next year. Fitch's previous forecast suggested that oil would average $75 per barrel in 2024 and $70 in 2025. However, the conflict in the Middle East has changed all that. “Our scenario assum

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