Summary
- The Pentagon said about $29 billion has been spent on the military response to Iran.
- Markets assessed the prolonged military conflict in the Middle East as a source of U.S. fiscal pressure and instability in global energy markets.
- International oil prices have remained highly volatile as they react to Middle East risks.
Forecast Trend Report by Period
The Pentagon said about $29 billion has been spent so far on the U.S. military response to Iran.
Odaily, a cryptocurrency news outlet, reported on May 12 that a Pentagon official said the war with Iran had cost a total of $29 billion to date.
Markets are assessing a prolonged military conflict in the Middle East as a source of added fiscal pressure for the U.S. and instability in global energy markets.
Tensions between the U.S. and Iran have recently expanded over the Strait of Hormuz, strikes on energy facilities and disputes over uranium enrichment. International oil prices have remained highly volatile as they react sharply to Middle East risks.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
