Strait of Hormuz closure threatens global energy stability. American Petroleum Institute CEO Mike Sommers warns that reopening the critical shipping route is essential to controlling rising oil prices amid US-Israel-Iran conflict. The strait handles twenty percent of world oil production, and its closure has driven gasoline prices to USD 3.97 per gallon in the US while creating diesel and jet fuel shortages across Asia and Europe. Sommers emphasized the White House must prioritize restoring tanker movement through the route. US oil producers remain cautious about increasing output due to price volatility uncertainty. Energy executives stress the need for stable supplies from multiple sources, though congressional reforms to streamline project approvals remain stalled by political divisions.
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