Iran War Costs Exceed $11.3 Billion
The Iran conflict has cost the U.S. over $11.3 billion in six days, prompting a 172 million barrel oil reserve release to combat price hikes.
Lauren Collins ·
The conflict involving Iran has incurred an estimated cost exceeding $11.3 billion for the United States within its initial six days, according to Pentagon officials who briefed lawmakers on Capitol Hill. This figure includes approximately $5.6 billion spent on munitions during the first two days of the war.
Concurrently, the U.S. Department of Energy announced a release of 172 million barrels from the Strategic Petroleum Reserve, commencing next week over 120 days, to mitigate rising oil prices exacerbated by the conflict.
This action is part of a broader International Energy Agency effort, with plans to replenish approximately 200 million barrels within the next year. Meanwhile, Israel initiated a "wave of strikes" in Tehran following Iranian missile launches into Israel, while Russia's UN envoy stated that no negotiations are currently underway to end the conflict.