Fitch Ratings' EMEA head for Natural Resources and Commodities, Angelina Valavina, addressed the market on Bloomberg Television, emphasizing that while a closure of the critical Strait of Hormuz would inflict a 'significant' impact on oil trade and prices, a prolonged shutdown remains 'highly unlikely.' Valavina's remarks underscore the strategic importance of the waterway, through which roughly one-fifth of global oil supplies transit daily. She cautioned that any closure would trigger a substantial rise in market risk premiums, reflecting heightened geopolitical tensions. However, she dismissed the prospect of an extended closure, citing operational realities and diplomatic pressures that make sustained disruption improbable. Strait of Hormuz closure would force alternative routes, increasing costs and logistical complexity, but Valavina's assessment suggests markets can breathe easier for now.