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UK Prime Minister Keir Starmer said on May 2 that reopening the Strait of Hormuz would not bring gas and oil prices back to normal, according to reports.
UK Prime Minister Keir Starmer said on May 2 that reopening the Strait of Hormuz would not bring gas and oil prices back to normal, according to reports.
His point was that damage to energy facilities, depleted stocks and higher insurance costs can keep prices elevated even after shipping resumes.
He gave no forecast for how long prices might stay high. Energy agency outlooks are better sources for that.
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