The U.S. war in Iran has cost $25 billion so far, according to a senior Pentagon official speaking on Wednesday. It is the first official cost estimate the military has disclosed for the conflict. The figure gives Congress, markets, and the public a concrete anchor for a war whose financial scope had not been formally stated until now. Defense spending of this scale typically draws pressure on the federal budget, raises questions about supplemental funding requests, and can shift expectations for defense contractors and procurement pipelines. Watch for congressional debate over how this spending is financed, whether through existing appropriations or emergency supplemental bills, and any updated estimates as the conflict continues.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
Venezuela's twin earthquakes, magnitudes 7.2 and 7.5, have killed at least 164 people and injured 971, interim president Delcy Rodriguez confirmed Thursday. The quakes are the country's strongest since 1900, collapsing buildings across Caracas and prompting a state of emergency, with the death toll expected to rise as
