Pakistan PM: Oil Import Costs Up 167% Since Iran War Began

Pakistan’s Prime Minister Shehbaz Sharif announced on Wednesday that the country’s oil import bill has jumped 167% to $800 million per week amid the war in Iran from around $300 million weekly before the conflict began. Brent crude for June delivery was trading at $114. 75 per barrel at 7.

00 am ET on Wednesday, a big jump from the low 70s before the war, while the corresponding WTI crude contract was changing hands at $103. 33/bbl from mid 60s in late February.