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Hormuz LPG shipments support supply rebound
The shipments of liquefied natural gas through the Strait of Hormuz have contributed to the recovery of gas supplies that began in September, with at least three shipments departing since late last week. However, the flows remain over 75% below pre-war levels. This rebound aims to meet the increasing demand for heating ahead of winter in Europe and Asia, while also easing price pressures, despite ongoing security risks in the region, such as a tanker being hit inside the strait by an unidentified object.
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