US Edition
War in Iran Shocks Markets, Costs U.S. Taxpayers $1 Billion a Day
The conflict driven by failed nuclear talks has caused oil prices to rise over 38% since February 28, costing U.S. military operations $1 billion daily, experts said.
- On Sunday, global markets saw oil prices rise from about $65 to over $90 a barrel, with U.S. gas prices averaging $3.45, up $0.47 weekly, and traffic through the Strait of Hormuz dropping from about 138 vessels to four.
- Following the collapse of negotiations, the U.S. and Israel launched attacks on Iran on Feb. 28, with officials outlining military objectives, Lachman said.
- Citing fiscal strain, Lachman said this is costing over a billion dollars a day, and he told The Center Square that they are going after oil refineries and pipelines, increasing pressure on the U.S. to end the war.
- Analysts warn higher oil prices could push costs above $100 a barrel, increasing economic pressures amid President Donald Trump’s push for a $1.5 trillion Department of War budget, with contractors boosting arms production.
- Amid growing risk, experts say the situation could spiral beyond anyone's control and highlight uncertainties about the war's duration and impact on the global economy.
47 Articles
47 Articles
Iran parliamentary leader vows military response to US and Israel
In Tehran’s latest signal that it will not blink, Iranian Parliament Speaker Mohammad Bagher Ghalibaf said the country is not looking to negotiate with the United States and Israel. As the war enters its 11th day, Iran has struggled to mount an effective response to the blistering U.S.-Israeli air and missile strikes that have devastated its military. Despite this, Ghalibaf said the government was not seeking negotiations and hinted that Tehran …
Morning Brief: Iran War Updates, U.S. Diplomats Evacuated, Trump Pushes Latin America Cartel Alliance
The war with Iran is producing ripple effects across the Middle East and global markets. U.S. diplomats are evacuating Gulf posts, Israeli strikes expand into Lebanon, oil prices surge, and Kurdish leaders warn against opening another front as Washington pushes new alliances abroad. #Iran #Israel #Ukraine #Oil #LATAM
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