The Pakistani government has initiated a feasibility study for strategic petroleum reserves through international consultancy Wood Mackenzie, chaired by Federal Minister Ali Pervaiz Malik.

According to Wood Mackenzie, the closure of the Strait of Hormuz could lead to oil prices reaching $200 per barrel by the end of the year, representing the biggest threat in decades. Conversely, peace could see prices drop to $80 per barrel.

Adani Solar has been ranked 6th in Wood Mackenzie's Global Module Manufacturer List, making it the highest-ranked Indian firm amid India's push to expand domestic solar manufacturing.

A report by Wood Mackenzie forecasts that a supply crunch in gas turbines is expected to cause prices to rise by 195% by 2027. This significant increase could impact energy projects and industrial sectors.

Wood Mackenzie forecasts that China's global ownership of lithium assets is set to expand significantly, reaching 39% by the year 2030.

Persian Gulf countries have reportedly lost $15 billion in revenue. While Kuwait and Qatar are highly exposed, they can leverage large sovereign funds to mitigate the short-term impact, according to Wood Mackenzie's economic director Peter Martin.