Key facts
- Kuwait is offering crude oil to Asian refiners.
- This is the first time Kuwait has made such an offer since the Iran war began.
- The development suggests an increase in oil shipments passing through the Strait of Hormuz.
Kuwait has initiated offers to sell its crude oil to refiners in Asia, a move not seen since the onset of the Iran war. This development serves as a recent indicator of increasing oil transit volumes through the critical Strait of Hormuz.