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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.
Summary
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.
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