Recent comments from Trump suggest a potential deal with Iran to open the Strait of Hormuz, which he believes could lower gasoline prices. However, this outcome is unlikely to occur this year. 50.
The US refining industry has not seen a new refinery in 50 years, with the last one built in 1977. A new refinery is planned to be built in Port Brownsville by India's Reliance Industries. Further details on the potential deal and its implications are available from the Odessa American.
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