Kuwait has declared force majeure on its oil shipments due to ongoing disruptions in the Strait of Hormuz, which has seen traffic come to a standstill. This blockade raises concerns about the stability of global fuel supplies, as the Strait is a critical chokepoint for oil transport.
The situation escalates amidst reports from maritime intelligence regarding the Iran War, highlighting the geopolitical tensions affecting fuel markets. Stakeholders are closely monitoring developments as the region's stability remains uncertain.