API's Sommers Urges Full Reopening Of Hormuz
Vice President JD Vance walks with Pakistan's Chief of Defense Forces and Chief of Army Staff Field Marshall Asim Munir and Pakistani Deputy Prime Minister and…
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Summary
June 17: Memorandum of Understanding struck The U.S. and Iran signed a 14-point memorandum of understanding on June 17 after two months of stalled talks. President Donald Trump speaks to the media on the day of a NATO leaders' summit in Ankara, Turkey, July 8, 2026. Mike Sommers, President and CEO of the American Petroleum Institute, says oil markets have held up better than many feared during the latest US-Iran escalation.
Furthermore, But Sommers warns prices will remain elevated as long as traffic through the Strait of Hormuz is restricted, emphasizing that fully reopening the strait is "the most important thing" to do in the immediate term.
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June 17: Memorandum of Understanding struck The U.S. and Iran signed a 14-point memorandum of understanding on June 17 after two months of stalled talks.
according to ABC News — Top StoriesPresident Donald Trump speaks to the media on the day of a NATO leaders' summit in Ankara, Turkey, July 8, 2026.
according to ABC News — Top StoriesMike Sommers, President and CEO of the American Petroleum Institute, says oil markets have held up better than many feared during the latest US-Iran escalation.
according to Bloomberg — PoliticsBut Sommers warns prices will remain elevated as long as traffic through the Strait of Hormuz is restricted, emphasizing that fully reopening the strait is "the most important thing" to do in the immediate term.
according to Bloomberg — Politics
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