Bahrain Bapco Declares Force Majeure Amid Oil Surge

Bahrain's Bapco declares force majeure, a clause excusing contract obligations due to uncontrollable events, amid soaring crude oil prices. The move addresses disruptions in supply chains from geopolitical tensions and market volatility. Force majeure typically covers acts of God, wars, or strikes, shielding companies from penalties. Questions arise on its validity and potential disruptions to global buyers. Energy markets watch closely as prices climb, impacting refineries worldwide. Read more about this...