Pakistan Scrambles for Oil Alternatives as Hormuz, Red Sea Risks Mount ↗

Pakistan’s refiners are inquiring traders about potential crude oil supply from the U.S., Nigeria, Singapore, and central Asia, amid the escalating crisis in the Middle East that threatens supply from both the Strait of Hormuz and the Red Sea. Following a meeting with the federal minister for petroleum and natural resources, who briefed industry representatives on the growing threats to crude oil supply, refiners have intensified efforts to secure cargoes from non-Middle Eastern producers, local…