Reopening Strait of Hormuz key to cooling global oil prices: American Petroleum Institute CEO

American Petroleum Institute CEO Mike Sommers stresses reopening the Strait of Hormuz is vital for global oil and gas prices. He noted supply disruptions are impacting markets significantly. Sommers highlighted that restoring tanker movement through this key route is the White House's most effective tool. He warned of continued price rises if the strait remains closed.

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