A senior U.S. administration official says a ceasefire agreed with Iran in early April has effectively ended hostilities for an imminent congressional war powers 1 May deadline, arguing that the absence of any military exchanges for more than three weeks removes the need for further authorisation.
Rising gasoline prices have become a flashpoint of the Iran war’s economic fallout, with motorists in California paying more than $6 a gallon, the highest level in two years.
The conflict has severely disrupted global oil supplies, pushing prices higher worldwide and hitting California particularly hard because it relies on imported fuel.
The surge is fuelling political tensions ahead of elections in California and across the U.S., as higher fuel costs add to inflation pressures and raise concerns about summer travel.
Anadolu reports that the true cost of the U.S. war with Iran is closer to $50 billion, significantly higher than figures publicly cited by the Pentagon, according to U.S. officials familiar with internal assessments, CBS News reported on Thursday.
The revised estimate is roughly double the $25 billion figure presented to Congress a day earlier by Pentagon official Jules Hurst during testimony on “Operation Epic Fury”. Hurst told lawmakers the lower estimate did not account for longer‑term costs such as infrastructure repairs or future construction, citing uncertainty over the military’s eventual force posture in the region.
CBS News reported that the Pentagon’s publicly cited figure also excludes the full cost of damaged or destroyed equipment, including the loss of 24 MQ‑9 Reaper drones, each valued at more than $30 million.
The conflict began with U.S. and Israeli strikes on Iran on 28 February, triggering Iranian retaliation and the closure of the Strait of Hormuz. A ceasefire was announced on 8 April through Pakistani mediation, but talks failed to reach a permanent agreement, with President Donald Trump later extending the ceasefire without a set end date.
A senior U.S. official said a ceasefire agreed with Iran in early April has effectively ended hostilities for the purposes of a looming congressional war powers deadline. The Trump administration argues there has been no exchange of fire for more than three weeks, meaning the conflict no longer triggers requirements under the War Powers Resolution.
President Donald Trump was facing a Friday deadline either to halt military action or seek approval from Congress.
Democrats dispute the administration’s legal interpretation, saying the law does not allow the clock to pause during a ceasefire, but Republicans have blocked efforts to force a withdrawal or formal authorisation.
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A Pentagon official provided the first official estimate of the cost of the U.S. war in Iran on Wednesday (29 April), telling lawmakers that $25 billion had so far been spent on the conflict, most of it on munitions. Earlier, Donald Trump said that the U.S. had "militarily defeated" Tehran.
Iran’s Supreme Leader Mojtaba Khamenei warned “foreigners who commit evil” have no place in the Gulf, outlining a “new phase” for the Strait of Hormuz, while a senior adviser said U.S. blockade efforts would fail and could trigger confrontation.
Shares in Meta Platforms fell sharply in extended trading on Wednesday after the tech giant raised its annual capital spending forecast by billions of dollars.
The decision by the United Arab Emirates to leave OPEC+ on 1 May has put renewed focus on one of the most influential groups in global energy - and how its decisions can shape oil prices worldwide.
Iran’s Supreme Leader Mojtaba Khamenei warned “foreigners who commit evil” have no place in the Gulf, outlining a “new phase” for the Strait of Hormuz, while a senior adviser said U.S. blockade efforts would fail and could trigger confrontation.
Iran said on Thursday it would respond with “long and painful strikes” against U.S. positions if Washington resumed attacks, while also reasserting its claim over the Strait of Hormuz, complicating U.S. plans to form a coalition to reopen the waterway.
The United Nations has said that at least 21 people have been executed in Iran and more than 4,000 arrested since the outbreak of war involving the United States and Israel on 28 February.
President Donald Trump discussed how to mitigate the impact of a possible months-long U.S. blockade of Iran's ports with oil companies, a White House official said on Wednesday, as the U.S. renewed its calls for other nations to help open the Strait of Hormuz.
A Pentagon official provided the first official estimate of the cost of the U.S. war in Iran on Wednesday (29 April), telling lawmakers that $25 billion had so far been spent on the conflict, most of it on munitions. Earlier, Donald Trump said that the U.S. had "militarily defeated" Tehran.
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