U.S. officials reveal the Iran war’s true cost is closer to $50 billion, roughly double the Pentagon’s public estimate of $25 billion, as oil prices surge to a four-year high.
Brent crude briefly surged above $126 per barrel, the highest since 2022, after reports the US military will brief Trump on new strike options against Iran.
Brent crude surged to over $126 a barrel, the highest since Russia’s 2022 invasion of Ukraine, after reports the US military will brief Trump on new plans for potential strikes on Iran.
International oil prices briefly exceeded $126 per barrel, the highest level since 2022, driven by escalating US-Iran tensions and concerns over the Strait of Hormuz.
The Bank of England’s Monetary Policy Committee votes to hold the base rate at 3.75%, but warns that energy price shocks from the Iran conflict could force rate hikes within the year.
Brent crude surges past $126 per barrel to a four-year high as US-Iran tensions escalate; Pentagon estimates Iran war cost at $25 billion.
International oil prices surged to their highest level since 2022 after President Trump warned the naval blockade against Iran could last months, as the US seeks international coalition to reopen the Strait of Hormuz.
The Federal Reserve kept interest rates unchanged at its April meeting, with growing divisions among policymakers on future direction. Meanwhile, oil prices surged above $120 per barrel due to the Iran conflict, intensifying inflation concerns.
Brent crude oil futures broke through $120 per barrel after the US announced an extension of its naval blockade of Iran, with fears of a prolonged conflict driving energy prices sharply higher.
Brent crude oil breaks above $125 per barrel, reaching the highest level since 2022. US military commanders to brief Trump on new Iran military options Thursday as global stocks decline broadly.