Here’s how much the Iran war cost — and how its effects will linger

A recent conflict between Iran and a powerful military force resulted in significant casualties and economic repercussions. The war, though brief, claimed the lives of 13 U.S. service members and over 3,300 Iranians, with additional deaths in Lebanon, Israel, and Gulf states. The conflict disrupted global energy markets, causing oil prices to rise and affecting inflation and mortgage rates in the U.S. It also led to fuel rationing in Asia and Africa and impacted supply chains worldwide. The U.S. economy has been hit hard, with consumers and taxpayers facing costs estimated at $132 billion, largely due to increased energy prices following the near shutdown of the Strait of Hormuz. Gasoline prices soared, affecting daily expenses for Americans. A preliminary ceasefire agreement aims to stabilize the situation, but the war’s effects will likely persist. QUESTION: How might the economic impact of this conflict influence future international relations and energy policies?