Pakistan is preparing contingency plans to secure oil imports via pipelines from Saudi Arabia and the United Arab Emirates (UAE) in case the Strait of Hormuz is closed due to escalating tensions between Israel and Iran, officials said Thursday. The Strait of Hormuz, a critical waterway through which about 20% of the world’s crude oil passes, could be blocked if the conflict escalates into a broader war. Pakistani officials are exploring alternative routes to ensure steady oil supplies and avoid …
