The blockade of the Strait of Hormuz continues, placing unprecedented pressure on global oil supply chains.
According to Bloomberg, Kuwait Petroleum Corporation (KPC) notified clients on Friday that it is formally invoking force majeure clauses to suspend partial shipments of crude oil and refined products due to its inability to fulfill delivery obligations to vessels unable to access the Persian Gulf. Meanwhile, prospects for US-Iran peace talks have dimmed again—the Iranian Ministry of Foreign Affairs expressed reservations about traveling to Pakistan for a second round of negotiations. As of press time, Brent crude had risen nearly 4%, nearing $94 per barrel.
According to Xinhua News Agency citing Iranian media reports from the 20th, a spokesperson for the Iranian Ministry of Foreign Affairs stated there are currently no plans for a second round of negotiations with the United States. However, on the same day, Ebrahim Aziz, Chairman of the National Security and Foreign Policy Committee of the Islamic Consultative Assembly, stated that Iran has decided to continue negotiations, while emphasizing this &#34;does not mean negotiating at any cost&#34; and rejecting &#34;any actions taken by the other side&#34;; if positive signals are received from the US, the Iranian delegation will travel to Islamabad to participate in talks.
Documents obtained by Bloomberg indicate that KPC's invocation of force majeure does not imply a complete supply interruption. However, a source familiar with the matter revealed that Kuwait's oil and gas infrastructure has suffered multiple strikes, with current production falling to historical lows seen in the early 1990s. Even if the conflict ends, full restoration of production capacity will take considerable time.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/df289b6c-485d-4d5d-b53e-a8bbe0fa08a5.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/df289b6c-485d-4d5d-b53e-a8bbe0fa08a5.png"/>
<h2>Kuwait Invokes Force Majeure as Production Plummets to 30-Year Low</h2>
In its notice to clients, KPC cited force majeure provisions, stating that the blockade of the Strait of Hormuz prevented it from delivering to client vessels unable to enter the Persian Gulf.
According to reports citing sources familiar with the situation, Kuwait's oil and gas infrastructure has endured multiple strikes, with current production levels falling to their lowest since Iraq's invasion in the early 1990s. Kuwaiti officials had previously indicated that pre-conflict production levels could be restored within months after the conflict ends, but sources note that even if tensions ease, export impacts may persist for some time.
Earlier this month, the US government estimated that due to the Strait of Hormuz blockade, global daily oil production shutdowns in April exceeded 9 million barrels, forcing several countries in the Persian Gulf region to cut oil, natural gas, and refined product output.
<h2>US-Iran Negotiation Prospects Unclear as Pakistan Mediates Maritime Blockade</h2>
Negotiation outlook remains uncertain, Iran sends mixed signals: The Foreign Ministry stated there are currently no plans for a second round of US-Iran talks, while senior parliamentary officials indicated they have decided to continue negotiations but not &#34;at any cost.&#34; On the US side, President Trump stated he is willing to meet with Iranian leaders should breakthroughs occur in negotiations.
According to Xinhua and US media reports, US President Trump stated on the 20th that he would be willing to meet with senior Iranian officials if negotiations achieve breakthrough progress. US media reported on the 20th that Vice President Vance and the US delegation would arrive in Islamabad, Pakistan's capital, &#34;within hours.&#34;
According to CCTV International News, citing Reuters today (April 20) referencing senior Iranian officials, Pakistan is actively mediating, working to urge the US to lift its maritime blockade against Iran to ensure Iranian participation in negotiations. Earlier, security sources in Pakistan revealed that President Trump told Pakistani Army Chief Munir during a phone call that he would consider Munir's suggestions regarding the maritime blockade on Iran. This issue has now become an obstacle to resuming US-Iran talks.
<h2>Strait of Hormuz: &#34;Open Then Closed Again&#34;</h2>
The situation in the strait underwent dramatic reversal over the past three days: Iran announced opening the Strait of Hormuz last Friday, only to close it again following the US refusal to lift the blockade.
According to CCTV International News, the Islamic Revolutionary Guard Corps Navy announced on the evening of the 18th local time that the Strait of Hormuz is immediately closed until the US lifts its blockade on Iranian ships and ports, citing US violations of the ceasefire agreement and failure to remove the blockade.
The Guards warned all vessels in the Persian Gulf and Gulf of Oman not to leave their anchorage points, stating that any approach to the strait &#34;will be considered cooperation with the enemy,&#34; and non-compliant vessels will become targets. The statement also declared that &#34;the US President's remarks regarding the Strait of Hormuz and the Persian Gulf lack credibility.&#34;
Just one day earlier, Iran had announced the strait was open to merchant vessels following designated routes. Trump subsequently posted &#34;thanks,&#34; but quickly added that &#34;the maritime blockade against Iran remains in effect.&#34;
Iran immediately accused the US of &#34;maritime piracy.&#34; Presidential spokesman Tabatabai stated on the 18th: &#34;Due to repeated breaches of trust and exploitation of this major concession for propaganda purposes, the strait has been blocked again.&#34;
The impact of the Hormuz blockade on global commodity supply chains continues to spread. Prior to the conflict, approximately one-fifth of global oil and liquefied natural gas was transported through this strategic chokepoint. The blockade has led to saturation of storage tanks in the Persian Gulf region and severely disrupted global oil market pricing mechanisms.
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On May 10, Trump tweeted angrily declaring Iran's latest response "completely unacceptable." Iran, through Pakistan, proposed an immediate ceasefire and the lifting of the naval blockade, while the US insists that Iran suspend uranium enrichment and restore passage through the Strait of Hormuz. The two sides remain fundamentally opposed. Do you think there's any possibility of breaking this deadlock?

On May 10, Trump tweeted angrily declaring Iran's latest response "completely unacceptable." Iran, through Pakistan, proposed an immediate ceasefire and the lifting of the naval blockade, while the US insists that Iran suspend uranium enrichment and restore passage through the Strait of Hormuz. The two sides remain fundamentally opposed. Do you think there's any possibility of breaking this deadlock?

US-Iran deadlock returns — is a ceasefire still possible?

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The Kuwait Petroleum Corporation (KPC) has formally invoked force majeure due to the Strait of Hormuz blockade, suspending some crude oil and refined product shipments, causing significant disruption to global oil supply chains. Brent crude prices surged nearly 4%, approaching $94 per barrel. Kuwait's oil and gas infrastructure has suffered multiple strikes, with production dropping to early-1990s historical lows; restoring capacity will take time. Prospects for US-Iran negotiations remain uncertain as Iran expresses reservations about participating in the second round of talks

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Kuwait Announces Force Majeure on Crude and Refined Product Exports; Strait of Hormuz Blockade Triggers Chain Reaction