Kuwait Halts Oil Exports Amid Strait of Hormuz Closure, Impacting Global Oil Prices
Kuwait has stopped exporting crude oil for the first time since the 1991 Gulf War, as reported by Tanker Trackers. This halt in exports follows the closure of the Strait of Hormuz due to ongoing conflicts involving the U.S., Israel, and Iran. The strait is a critical chokepoint for global oil and LNG flows, handling about one-fifth of these commodities. Kuwait, a significant U.S. ally and host to American troops, previously exported approximately 1.85 million barrels per day, primarily to Asian markets. The suspension of exports was declared by Kuwait Petroleum Corporation on April 17, citing force majeure. This development has contributed to a surge in oil prices, which have climbed above $120 per barrel, reaching their highest levels since 2022. 
