Dawn
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02:45 Aug 02, 2026
KARACHI: The influx of smuggled Iranian oil has drastically declined as tankers were hit inside Balochistan, causing heavy losses to those involved in this illegal business, according to sources in the oil sector. The oil companies have been demanding that oil smuggling be stopped, but it has continued for years. However, the arrival of Iranian petroleum products increased after the US-Israeli war on Tehran began, pushing crude oil prices above $100 per barrel. “Over the past month and a half, at least six oil tankers coming from Iran were destroyed by terrorists, but the actual number is not known,” said the source familiar with those in the oil business. However, it was not confirmed by other sources. Since the US-Israeli attack on Iran on Feb 28, the entire world was shocked due to due to closure of the Strait of Hormuz, which is the world’s most critical energy transit chokepoint, carrying roughly 20pc of global oil, 20pc of liquefied natural gas (LNG), and about one-third of the world’s fertiliser trade...