Kuwait Force Majeure Continues as U.S. Iranian Ship Seizure Fuels Hormuz Tensions

Kuwait Petroleum Corp. upholds force majeure on crude and refined shipments after U.S. seizure of an Iranian-flagged vessel disrupted Strait of Hormuz access, prompting vessel reroutes and trader risk reassessments. Bloomberg first reported the declaration amid a Hormuz blockade on April 20, 2026, allowing Kuwait to withhold deliveries without fully halting supply. Oil prices rebounded in early trading on supply fears, worsened by Houthi threats to Bab el-Mandeb, signaling potential broader export constraints and crude volatility.