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Kuwait has declared force majeure on shipments of crude oil and refined products after a blockade of Iranian ports prevented some vessels from entering the Persian Gulf, hindering its ability to meet certain customer commitments, Reuters reports, citing Bloomberg News.
State-run Kuwait Petroleum Corp. notified customers on Friday that it was invoking a contract clause allowing it to withhold scheduled deliveries, the report says, citing a document.
It adds that the decision is not expected to result in a complete halt in supply.
Reuters has not independently verified the report.
