World · 20 April 2026
Kuwait declares force majeure on oil as Hormuz shuts
British drivers should brace for another leg higher in pump prices after Kuwait formalised the Gulf crisis. State-run Kuwait Petroleum Corp told customers on Friday it cannot meet crude and refined product delivery obligations because the Strait of Hormuz blockade blocks vessel access. Kuwait produces around 2.5 million barrels a day. Brent crude rose 4.8% to $94.75 on Monday.
Reported by Bloomberg · How we write briefs