Amid rising regional tensions and in reaction to last night attacks, the Iranian parliament has approved the closure of the Strait of Hormuz, pending final approval by the Supreme Commander. Hormuz is a critical oil transit route to the Western and Gulf adversaries, though this selective blockade may shield Pakistan and China from direct disruption due to friendly relationship with Iran, the global fallout would still be severe specifically for the countries standing against Iran. Roughly 25–30% of the world’s oil flows through the Strait. Even a partial closure could drive oil prices above $150 per barrel, disrupt global shipping lanes and trigger worldwide inflation. The situation is already tightening, freights and global premiums on petroleum products have risen since the outbreak of conflict between Iran and Israel. If cargoes heading to Pakistan are allowed to pass may shield Pakistan from immediate disruption.…