Pakistan Reroutes Oil Supply as Strait of Hormuz Crisis Escalates

Pakistan could seek to be included in Saudi Arabia’s preferred buyers of crude exported from the Red Sea amid the major disruption to tanker traffic in the Strait of Hormuz, sources told Pakistani outlet The News. The escalating conflict in Iran and Tehran’s retaliatory strikes on landmarks and airports in Gulf countries including the UAE, Kuwait, and Bahrain, have effectively halted oil and LNG tanker traffic via the vital Strait of Hormuz, where a fifth of global oil and LNG flows pass. While the Strait is not formally…