Kuwait: Kuwait Petroleum Corporation (KPC) has entered into a strategic agreement with Korea National Oil Corporation (KNOC) to store four million barrels of oil in Ulsan, South Korea. The agreement spans two years and aims to enhance energy security through strategic reserves. According to Kuwait News Agency, this collaboration marks a significant step in strengthening bilateral ties between Kuwait and South Korea, particularly in the energy sector. The agreement is expected to facilitate a stable supply chain and ensure energy availability, addressing fluctuating market demands. In other developments, Gaza health authorities report that the death toll from the aggression by Israeli occupation forces in northern Gaza has surged to over 1,200 Palestinians over the past 25 days. Meanwhile, a Kuwaiti diplomat emphasized the potential global security risks if the United Nations Relief and Works Agency (UNRWA) were to collapse, during an urgent meeting of permanent representatives to the Arab League. Senior di plomats from Japan, the US, and South Korea have condemned North Korea's launch of an intercontinental ballistic missile (ICBM)-class missile, as reported by the Japanese Foreign Ministry. Additionally, a Ministerial Conference on the Human Dimension of Ukraine has begun in Montreal, Canada, with a focus on implementing the fourth point of Ukrainian President Volodymyr Zelenskyy's peace formula, which seeks the release of prisoners and deportees.
