DawnEN
Storage deficit
<p>THE Strait of Hormuz closed on Feb 28, 2026. Within days, QatarEnergy <a href="https://www.dawn.com/news/1984930">declared force majeure</a>.</p> <p>Pakistan, which sourced almost all its LNG from Qatar, asked Saudi Arabia to reroute crude through the Red Sea and released gas it had been holding back for weeks. There was no gas storage and very little oil