The war that began on February 28, 2026, between the United States, Israel and Iran has triggered the largest disruption to global oil supplies in history. The effective closure of the Strait of Hormuz, through which roughly one-fifth of the world’s oil trade passes, sent shock waves through energy markets. Global oil supply plunged by 10.1 million barrels per day in March, and Brent crude surged towards $120 a barrel. Eight months into the conflict, the crisis remains far from over. On October 16, Brent climbed back to $110 a barrel, almost 40% higher than at the start of the year. Attacks on energy infrastructure and restrictions on shipping have forced producers to seek alternative export routes and improvise new arrangements for moving crude. What began as a regional war has become a global energy emergency, exposing the vulnerability of an oil-dependent world to the disruption of a single maritime chokepoint.

Pakistan did not start this war, has no military presence in the Strait of Hormuz and has no role in the decisions that triggered the conflict. Yet its economic consequences are being felt far beyond the battlefield. Roughly four-fifths of Pakistan’s crude oil imports come from Gulf producers, while its liquefied natural gas supplies are also vulnerable to disruptions along critical maritime routes. Higher international oil prices inflate the import bill, increase domestic fuel costs and place additional pressure on an economy already struggling with scarce foreign exchange and mounting........

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