Kuwait Requests Buyers to Collect Oil Products from Gulf Ports, Indicating Possible Reopening of Strait of Hormuz

On June 22, Kuwait is requiring customers to collect refined oil products from ports located deep in the Persian Gulf. A document seen by the media indicates that the state-owned Kuwait Petroleum Corporation has issued a tender for the sale of naphtha, requesting buyers to pick up the goods from the country's ports. These shipments need to be transported through the waterway to reach the customers. Traders noted that this is the first time in a long while that such sales arrangements have been seen, although no further specifics were provided. They pointed out that unlike previous sales, this time buyers are required to charter vessels for the transportation of goods. Meanwhile, Kuwait Petroleum Corporation did not immediately respond to requests for comments outside of business hours.