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Times of India

Kuwait offers direct refined-product liftings as 93 million non-Iranian barrels remain stranded in the Gulf

Kuwait has asked customers to lift refined petroleum products directly from its ports, as the US and Iran announced a Strait of Hormuz communication channel and pledged no transit fees for 60 days. Kuwait Petroleum Corporation has lifted force majeure notices and begun raising output. Data show 93 million barrels of non-Iranian crude remain stranded in the Persian Gulf due to shipping disruptions, according to Kpler. Brent has dropped sharply from conflict highs, but refined-fuel markets remain tighter than crude.
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Geopolitics