70% chance of US-Iran deal in Q1: Fitch Solutions

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Hamzeh Al Gaaod, Associate Director of the Middle East at Fitch Solutions, says there is a 70% chance of a preliminary U.S.-Iran deal in the first quarter of next year that could reopen the Strait of Hormuz, restore oil flows and ease the economic and inflationary impact of the energy shock. He also expects oil prices to trade around the $100 to $105 a barrel mark through the end of the year.