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Sign InPakistan's Prime Minister Shehbaz Sharif has revealed a severe fiscal strain as the nation's weekly oil import bill surged from $300 million to $800 million. This 167% increase is directly attributed to the ongoing conflict in Iran, which has significantly disrupted global energy markets. Currently, Brent crude for June delivery is trading at $114.75 per barrel, while WTI remains at approximately $103.33. This sharp escalation follows a period where prices were stabilized in the $70s prior to the conflict's onset in late February 2026. The Pakistani government now faces critical challenges in managing its balance of payments and securing foreign exchange for essential energy imports. This development underscores the mounting economic pressure on major emerging market importers due to geopolitical volatility.