The ongoing tensions between the United States and Iran have escalated, with President Trump threatening to bomb bridges or power plants for every ship attacked in the Strait of Hormuz. This comes as a response to Iran's continued attacks on vessels in the strait, as well as its bombardment of Jordan and the threat to block access to Saudi Arabia's Red Sea ports. The situation has caused a significant jump in oil prices, with international benchmark Brent Crude trading briefly over $95 a barrel. The U.S. military has been conducting strikes on Iranian assets, including aircraft hangars and drone storage and operations centers, to degrade Iran's ability to threaten commercial shipping. However, Iran has also been targeting U.S. bases in Jordan, killing three U.S. soldiers and injuring others. The Pentagon has identified a third soldier who is believed to have been killed by Iranian strikes on a Jordanian air base. The war's actual cost is expected to be far higher than the $37.5 billion estimate, as it does not include costs like military construction for damaged U.S. bases. The situation remains tense, with the U.S. and Iran engaging in a dangerous game of escalation and retaliation.
