Fitch Ratings has increased its short- and medium-term oil price assumptions, reflecting the increasing number of buyers boycotting imports from Russia. American credit rating agency Fitch Ratings has increased its short- and medium-term oil price assumptions, reflecting the increasing number of buyers boycotting imports from Russia. Fitch has increased its Brent and WTI price assumptions for 2022-2024 by $5 per barrel (bbl) with the Brent price for 2022 rising to $105 per bbl, while the prices for 2023 and 2024 rose to $85 and $65 respectively. Prices for 2025 and the long term remain flat at $53 per bbl. The $5 boost to price assumptions lifts WTI for 2022 up to $100 per barrel while 2023 and 2024 prices rise to $81 and $62, respectively. WTI prices, like Brent, will for now remain flat for 2025 and the long term. Global oil prices will be underpinned by the need […]