ISLAMABAD: A dramatic escalation in Middle East tensions has jolted global oil markets and stalled two Pakistan bound crude cargoes in the Strait of Hormuz, a chokepoint that carries nearly one fifth of the world energy supply. As Brent crude surged past 82 dollars per barrel, authorities moved swiftly to calm fears, declaring that Pakistan has secured fuel stocks sufficient for 28 days of national consumption.
Officials confirmed that petrol and diesel reserves were deliberately built up through surplus imports in anticipation of geopolitical fallout. The Petroleum Division had earlier instructed Ogra to maintain elevated inventory levels, pushing coverage beyond 25 days in January and 28 days in February to cushion any external shock.
The Strait of Hormuz, a narrow 33 kilometre passage, is the lifeline for major OPEC exporters shipping roughly 20 million barrels per day. With two crude cargoes temporarily stranded, the spotlight has shifted to supply chain resilience and payment continuity.
In an emergency review, the petroleum and finance ministers assured the nation that there is no cause for panic. The State Bank pledged seamless oil related payments to keep refinery operations and product imports uninterrupted.
Globally, producers are scrambling. OPEC Plus is considering a sharp output hike, potentially adding 411,000 barrels per day in April, while Saudi Arabia and the UAE have already boosted exports in anticipation of prolonged disruption.
Energy analysts warn that if the conflict drags on, markets could face deeper volatility. For now, Pakistan 28 day fuel shield stands as a critical buffer against a fast moving global oil shock.
