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Story summary
- Norway's March 2025 crude exports hit a record of 57.4 billion kroner, up 67.9%, driven by Iran's war and Hormuz closure.
- The average price was 1,014 kroner per barrel, the highest since September 2023.
- Analyst Jan Olav Rorhus said the Hormuz closure caused a significant supply shock.
- Norway invests its oil revenue in a sovereign wealth fund worth about $2.19 trillion.
