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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, Bloomberg News reported, citing a document.
State-run Kuwait Petroleum Corp notified customers on Friday (April 17) that it was invoking a contract clause allowing it to withhold scheduled deliveries, the report said.
It added that the decision is not expected to result in a complete halt in supply.
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