Wall Street and Fitch both lower oil price expectations, but warn that the reopening of the Strait of Hormuz may just be a "paper positive."

According to the Economic Information App, after the United States and Iran reached an agreement aimed at ending the war and reopening the Strait of Hormuz, optimism about the recovery of Middle East oil supply has increased. International oil prices have fallen to their lowest level since early March this year. Wall Street giants Morgan Stanley and Goldman Sachs, as well as international rating agency Fitch, have all lowered their oil price forecasts for the fourth quarter of this year, citing expectations that the speed of recovery of Persian Gulf oil exports may be faster than previously expected.