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Kuwait Declares Force Majeure As US Seizure Of Iranian Ship Escalates Tensions
Kuwait Declares Force Majeure As US Seizure Of Iranian Ship Escalates Tensions
By Charles Kennedy of OilPrice.com
Kuwait has declared force majeure on shipments of crude oil and refined products after disruptions at the Strait of Hormuz prevented some vessels from entering the Persian Gulf.
The move comes as tensions in the Strait escalated again following the U.S. seizure of an Iranian-flagged cargo vessel in the waterway.
According to Reuters, Kuwait Petroleum Corporation has notified customers that it is invoking contractual clauses allowing it to withhold certain scheduled deliveries after the blockade hindered...
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