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Kuwait Declares Force Majeure on Oil Shipments Amid Blockade of Hormuz

Kuwait has declared force majeure on shipments of crude oil ‌and refined products after a blockade of the Strait of Hormuz prevented some vessels from entering the Persian Gulf, hindering its ability to meet certain customer commitments.

State-run Kuwait Petroleum Corp notified customers on April 17 that it was invoking a contract clause allowing it to withhold scheduled deliveries.

It added that the decision is not expected to result in a complete halt in supply.

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