Kuwait declares force majeure on oil shipments amid Hormuz blockade

Kuwait declared force majeure on shipments of crude oil and refined products after a blockade of the Strait of Hormuz prevented some ships from entering the Persian Gulf and hindered its ability to meet certain customer commitments, Bloomberg News reported Monday, citing a document.

The report noted that state-run Kuwait Oil Company announced on Friday that it had enacted a contract clause allowing it to halt scheduled deliveries to its customers.

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

Reuters could not independently verify the report.