Houston, March 25 -- Mike Sommers, CEO, American Petroleum Institute, said that reopening the Strait of Hormuz is critical to stabilising global oil and gas prices amid the ongoing US-Israel-Iran conflict. He highlighted the growing impact of supply disruptions on global energy markets.

According to a news report by Politico, Sommers said the White House's most effective lever to control rising energy prices is to restore tanker movement through the key shipping route.

"The truth of the matter is there's no replacement for the strait. That is the critical piece that has to be done and done quickly," Sommers said while speaking at the POLITICO Pub at CERAWeek by S&P Global.

He added, "Otherwise, you're going to continue to see rising pr...