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GAS & POWER: President Trump backtracked yesterday afternoon on “tariffs” for passage and protection via Hormuz, now replaced by promises of trade and investment agreements with Gulf states. Meanwhile, the U.S. military continued its series of military raids late yesterday afternoon, while navigation in the area remains at a low point despite assurances from the White House.

New maintenance scheduled at the Kollsnes facility will limit Norwegian exports by around 15 million cubic metres tomorrow – bringing the overall restrictions to around 35 million cubic metres. The impact of maintenance remains subject to possible review by GASSCO in the next few hours, however.